Conestoga Capital Advisors LLC Acquires 131,217 Shares of Transcat, Inc. $TRNS

Key Points

• Conestoga Capital Advisors LLC increased its holdings in Transcat, Inc. by 13.7% in the second quarter, owning over 1 million shares valued at approximately $93.57 million.
• Research firms have generally positive ratings on Transcat, with a consensus rating of "Moderate Buy" and an average price target of $112.20.
• Transcat reported a quarterly EPS of $0.59, exceeding estimates and indicating a revenue of $76.42 million, up from a projected $72.28 million.

Conestoga Capital Advisors LLC increased its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 13.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,088,471 shares of the scientific and technical instruments company's stock after purchasing an additional 131,217 shares during the quarter. Conestoga Capital Advisors LLC owned 11.68% of Transcat worth $93,565,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Transcat by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 27,916 shares of the scientific and technical instruments company's stock worth $2,078,000 after purchasing an additional 172 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Transcat by 3.4% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 6,353 shares of the scientific and technical instruments company's stock worth $473,000 after purchasing an additional 210 shares in the last quarter. US Bancorp DE increased its stake 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 worth $132,000 after purchasing an additional 226 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Transcat by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company's stock worth $407,000 after purchasing an additional 325 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Transcat by 6.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,071 shares of the scientific and technical instruments company's stock worth $378,000 after acquiring an additional 328 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TRNS. Lake Street Capital began coverage on Transcat in a research report on Thursday, July 10th. They set a "buy" rating and a $105.00 price target for the company. Zacks Research raised Transcat from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. HC Wainwright reaffirmed a "buy" rating and set a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Transcat in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $112.20.

Transcat Trading Down 0.9%

NASDAQ TRNS opened at $69.25 on Monday. The company has a market cap of $645.41 million, a PE ratio of 48.43 and a beta of 0.70. 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 12 month low of $67.56 and a 12 month high of $133.40. The stock has a 50 day moving average of $77.07 and a 200-day moving average of $80.43.

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 EPS for the quarter, beating the consensus estimate of $0.40 by $0.19. The company had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. On average, equities research analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

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.

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