Transcat, Inc. $TRNS Shares Purchased by Champlain Investment Partners LLC

Key Points

• Champlain Investment Partners LLC increased its holdings in Transcat, Inc. by 7.6%, acquiring an additional 42,376 shares, bringing their total ownership to 598,026 shares valued at approximately $44.5 million.
• Analyst ratings for Transcat have improved, with Wall Street Zen upgrading the stock to a "hold" and Lake Street Capital initiating coverage with a "buy" rating and a $105 price target.
• Transcat reported better-than-expected quarterly earnings with an EPS of $0.59, surpassing analysts' estimates and achieving revenue of $76.42 million for the quarter.

Champlain Investment Partners LLC grew its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 598,026 shares of the scientific and technical instruments company's stock after purchasing an additional 42,376 shares during the period. Champlain Investment Partners LLC owned approximately 6.42% of Transcat worth $44,523,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Transcat by 52.3% during the 4th quarter. Wells Fargo & Company MN now owns 4,259 shares of the scientific and technical instruments company's stock worth $450,000 after buying an additional 1,463 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Transcat in the fourth quarter worth $2,071,000. Barclays PLC lifted its holdings in Transcat by 7.3% in the fourth quarter. Barclays PLC now owns 16,234 shares of the scientific and technical instruments company's stock valued at $1,717,000 after acquiring an additional 1,104 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Transcat by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 209,200 shares of the scientific and technical instruments company's stock valued at $22,121,000 after acquiring an additional 10,186 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Transcat by 10.6% during the 4th quarter. MetLife Investment Management LLC now owns 5,430 shares of the scientific and technical instruments company's stock worth $574,000 after purchasing an additional 519 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Price Performance

Shares of NASDAQ:TRNS traded down $0.54 on Friday, hitting $83.95. The company had a trading volume of 100,075 shares, compared to its average volume of 106,722. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. Transcat, Inc. has a 52-week low of $67.56 and a 52-week high of $133.72. The business has a 50 day moving average of $83.24 and a 200 day moving average of $80.88. The company has a market cap of $782.41 million, a PE ratio of 58.71 and a beta of 0.71.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. The firm had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. As a group, equities analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

TRNS has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital initiated coverage on shares of Transcat in a research report on Thursday, July 10th. They set a "buy" rating and a $105.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Transcat presently has an average rating of "Moderate Buy" and an average target price of $112.20.

Transcat Profile

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.