Comerica Bank Acquires 8,566 Shares of Transcat, Inc. $TRNS

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 holdings in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 13.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,166 shares of the scientific and technical instruments company's stock after buying an additional 8,566 shares during the quarter. Comerica Bank owned approximately 0.79% of Transcat worth $5,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNS. Quantbot Technologies LP purchased a new stake in shares of Transcat in the 1st quarter worth about $76,000. Aquatic Capital Management LLC grew its position in shares of 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 buying an additional 1,052 shares during the period. GAMMA Investing LLC grew its position in Transcat by 10,137.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock valued at $122,000 after purchasing an additional 1,622 shares during the last quarter. US Bancorp DE grew its position in Transcat by 14.6% during the 1st quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company's stock valued at $132,000 after purchasing an additional 226 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Transcat by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock valued at $269,000 after purchasing an additional 837 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Performance

Shares of NASDAQ TRNS traded down $0.54 during trading on Monday, reaching $83.95. 100,075 shares of the company traded hands, compared to its average volume of 108,547. The firm has a 50 day simple moving average of $83.24 and a 200-day simple moving average of $80.86. 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 stock has a market capitalization of $782.41 million, a PE ratio of 58.71 and a beta of 0.72. Transcat, Inc. has a 52-week low of $67.56 and a 52-week high of $133.72.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.19. The firm had revenue of $76.42 million for 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%. Equities research analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. HC Wainwright reissued a "buy" rating and set a $116.00 price objective on shares of Transcat in a research report on Friday, August 22nd. Finally, Lake Street Capital assumed coverage on shares of Transcat in a research report on Thursday, July 10th. They set a "buy" rating and a $105.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.