Transcat, Inc. $TRNS Shares Bought 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 boosted its position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,026 shares of the scientific and technical instruments company's stock after purchasing an additional 42,376 shares during the quarter. Champlain Investment Partners LLC owned about 6.42% of Transcat worth $44,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Transcat during the 1st quarter worth $76,000. Aquatic Capital Management LLC lifted its holdings in shares of Transcat by 1,052.0% during the 4th quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock worth $122,000 after acquiring an additional 1,052 shares during the last quarter. GAMMA Investing LLC raised its position in Transcat by 10,137.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,622 shares during the period. US Bancorp DE raised its position in Transcat by 14.6% in the 1st quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company's stock worth $132,000 after purchasing an additional 226 shares during the period. Finally, ProShare Advisors LLC raised its position in Transcat by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock worth $269,000 after purchasing an additional 837 shares during the period. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TRNS shares. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. HC Wainwright reiterated a "buy" rating and issued a $116.00 target price on shares of Transcat in a research report on Friday, August 22nd. Finally, Lake Street Capital started coverage on shares of Transcat in a research report on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price on the stock. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $112.20.

Transcat Trading Down 0.2%

Shares of TRNS traded down $0.19 during trading hours on Tuesday, reaching $83.77. 11,341 shares of the company traded hands, compared to its average volume of 106,195. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $780.69 million, a price-to-earnings ratio of 58.58 and a beta of 0.72. Transcat, Inc. has a 12 month low of $67.56 and a 12 month high of $133.72. The company's fifty day moving average price is $83.31 and its two-hundred day moving average price is $80.86.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. Equities research analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

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.