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

A number of other hedge funds also recently made changes to their positions in TRNS. Bank of New York Mellon Corp lifted its stake in Transcat by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 27,916 shares of the scientific and technical instruments company's stock valued at $2,078,000 after purchasing an additional 172 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Transcat by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,137 shares of the scientific and technical instruments company's stock valued at $543,000 after buying an additional 194 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Transcat by 3.4% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 6,353 shares of the scientific and technical instruments company's stock valued at $473,000 after purchasing an additional 210 shares during the period. US Bancorp DE boosted its stake in Transcat by 14.6% during the first quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company's stock valued at $132,000 after buying an additional 226 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Transcat by 6.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,071 shares of the scientific and technical instruments company's stock worth $378,000 after purchasing an additional 328 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 on the stock. HC Wainwright reissued a "buy" rating and issued a $116.00 price target on shares of Transcat in a report on Friday, August 22nd. Finally, Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Stock Up 3.5%

TRNS stock traded up $2.53 during trading on Thursday, hitting $75.14. 25,788 shares of the stock traded hands, compared to its average volume of 106,734. The firm's 50 day moving average is $81.04 and its two-hundred day moving average is $80.43. The stock has a market cap of $700.23 million, a price-to-earnings ratio of 52.55 and a beta of 0.72. Transcat, Inc. has a 1 year low of $67.56 and a 1 year high of $133.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36.

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 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 company had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. On average, sell-side analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current year.

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.