Transcat, Inc. $TRNS Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in Transcat, Inc. by 13.3% to own approximately 73,166 shares, valued at around $5.45 million.
• Transcat reported a quarterly EPS of $0.59, beating estimates, with revenues of $76.42 million, above the consensus of $72.28 million.
• A number of analysts have issued ratings for Transcat, with a target price range of $105.00 to $116.00, indicating a positive outlook amidst an average rating of "Moderate Buy".

Comerica Bank lifted its position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 13.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,166 shares of the scientific and technical instruments company's stock after buying an additional 8,566 shares during the period. Comerica Bank owned approximately 0.79% of Transcat worth $5,447,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TRNS. Quantbot Technologies LP acquired a new stake in Transcat in the 1st quarter worth approximately $76,000. Aquatic Capital Management LLC boosted its stake in Transcat by 1,052.0% in 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 purchasing an additional 1,052 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 in the last quarter. US Bancorp DE boosted its stake 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 in the last quarter. Finally, ProShare Advisors LLC boosted its stake 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 in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Stock Performance

NASDAQ TRNS traded down $2.12 on Wednesday, hitting $81.80. 52,700 shares of the company's stock traded hands, compared to its average volume of 106,226. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average price is $83.33 and its two-hundred day moving average price is $80.88. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $133.72. The firm has a market capitalization of $762.29 million, a PE ratio of 57.20 and a beta of 0.72.

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

Wall Street Analyst Weigh In

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

About Transcat

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.