Invesco Ltd. Boosts Holdings in Transcat, Inc. $TRNS

Key Points

• Invesco Ltd. increased its stake in Transcat, Inc. by 52.6%, acquiring an additional 3,270 shares to own a total of 9,483 shares, valued at approximately $706,000.
• Transcat's stock is currently down 3.1%, with a market cap of $723.70 million, trading at $77.65 per share.
• Transcat reported $0.59 earnings per share for its last quarter, beating expectations and showcasing strong revenue of $76.42 million.

Invesco Ltd. increased its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 52.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,483 shares of the scientific and technical instruments company's stock after acquiring an additional 3,270 shares during the period. Invesco Ltd. owned about 0.10% of Transcat worth $706,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TRNS. Conestoga Capital Advisors LLC raised its position 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 worth $71,268,000 after acquiring an additional 52,328 shares during the last quarter. Royce & Associates LP raised its stake in Transcat by 1.1% in the first quarter. Royce & Associates LP now owns 478,581 shares of the scientific and technical instruments company's stock valued at $35,630,000 after buying an additional 5,327 shares during the period. Granahan Investment Management LLC increased its stake in shares of Transcat by 132.0% during the fourth quarter. Granahan Investment Management LLC now owns 188,763 shares of the scientific and technical instruments company's stock worth $19,960,000 after purchasing an additional 107,389 shares during the period. 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 worth $13,404,000 after purchasing an additional 70,461 shares during the period. Finally, Royal Bank of Canada increased its stake in Transcat by 328.4% during the 4th quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock worth $18,348,000 after acquiring an additional 133,013 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRNS. Lake Street Capital initiated coverage on shares of Transcat in a report on Thursday, July 10th. They set a "buy" rating and a $105.00 price target for the company. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $116.00 price objective on shares of Transcat in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $112.20.

Transcat Stock Performance

Shares of NASDAQ TRNS traded up $0.53 during midday trading on Friday, hitting $78.18. 186,778 shares of the stock traded hands, compared to its average volume of 98,084. Transcat, Inc. has a one year low of $67.56 and a one year high of $133.72. The firm has a market capitalization of $728.64 million, a P/E ratio of 54.67 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.92. The firm has a 50-day moving average of $83.01 and a two-hundred day moving average of $80.77.

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