Granahan Investment Management LLC Boosts Stock Holdings in Transcat, Inc. $TRNS

Key Points

• Granahan Investment Management LLC has increased its stake in Transcat, Inc. by 12.9%, owning 213,167 shares valued at approximately $15.87 million as per their recent SEC filing.
• Transcat reported a quarterly earnings per share (EPS) of $0.59, exceeding analysts' estimates of $0.40, alongside a revenue of $76.42 million for the quarter.
• Wall Street analysts have a moderate buy average rating for Transcat, with an average target price of $112.20, indicating optimistic future performance.

Granahan Investment Management LLC boosted its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,167 shares of the scientific and technical instruments company's stock after acquiring an additional 24,404 shares during the period. Granahan Investment Management LLC owned 2.29% of Transcat worth $15,870,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its holdings in shares of Transcat by 5.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock valued at $71,268,000 after buying an additional 52,328 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Transcat by 5.5% in the 1st quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock worth $68,635,000 after purchasing an additional 47,913 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Transcat by 17.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock worth $45,218,000 after purchasing an additional 88,763 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Transcat by 7.6% in the 1st quarter. Champlain Investment Partners LLC now owns 598,026 shares of the scientific and technical instruments company's stock worth $44,523,000 after purchasing an additional 42,376 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Transcat by 1.1% in the 1st quarter. Royce & Associates LP now owns 478,581 shares of the scientific and technical instruments company's stock worth $35,630,000 after purchasing an additional 5,327 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Transcat Price Performance

TRNS stock traded down $0.95 during midday trading on Wednesday, hitting $78.02. The company's stock had a trading volume of 21,466 shares, compared to its average volume of 107,097. 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 firm has a market capitalization of $727.15 million, a price-to-earnings ratio of 54.56 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 has a 50 day moving average of $82.72 and a two-hundred day moving average of $80.74.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly 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. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The company had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.28 million. On average, analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

TRNS has been the subject of several research reports. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research 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 price target for the company. Finally, 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Transcat currently has an average rating of "Moderate Buy" and a consensus target price 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.