Howe & Rusling Inc. Buys 4,459 Shares of Transcat, Inc. $TRNS

Key Points

• Howe & Rusling Inc. increased its stake in Transcat, Inc. by 115.8% in the first quarter, owning a total of 8,310 shares valued at approximately $619,000.
• Several institutional investors, including Royal Bank of Canada and T. Rowe Price Investment Management Inc., significantly expanded their positions in Transcat, leading to institutional ownership of 98.34% of the company's stock.
• Transcat reported earnings surpassing estimates with $0.59 EPS for the last quarter, along with a revenue of $76.42 million, indicating a strong performance relative to analysts' forecasts.

Howe & Rusling Inc. raised its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 115.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,310 shares of the scientific and technical instruments company's stock after purchasing an additional 4,459 shares during the period. Howe & Rusling Inc. owned 0.09% of Transcat worth $619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TRNS. Royal Bank of Canada increased its stake in shares of Transcat by 328.4% during the fourth quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock valued at $18,348,000 after purchasing an additional 133,013 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Transcat by 17.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock valued at $45,218,000 after purchasing an additional 88,763 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Transcat by 64.3% during the first quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock valued at $13,404,000 after purchasing an additional 70,461 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Transcat by 5.8% during the first 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 purchasing an additional 52,328 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Transcat by 5.5% during the first quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock valued at $68,635,000 after purchasing an additional 47,913 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Transcat Trading Down 2.1%

NASDAQ:TRNS opened at $74.82 on Friday. 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 $133.72. The company has a market cap of $697.32 million, a PE ratio of 52.32 and a beta of 0.72. The company has a 50 day simple moving average of $81.89 and a two-hundred day simple moving average of $80.61.

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

Wall Street Analyst Weigh In

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

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