Invesco Ltd. Boosts Stake 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 position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 52.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,483 shares of the scientific and technical instruments company's stock after acquiring an additional 3,270 shares during the quarter. Invesco Ltd. owned about 0.10% of Transcat worth $706,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Transcat by 10,137.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,622 shares during the period. US Bancorp DE lifted its stake in shares of 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 valued at $132,000 after buying an additional 226 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Transcat by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock worth $269,000 after buying an additional 837 shares during the period. Centiva Capital LP boosted its holdings in Transcat by 6.0% in the 4th quarter. Centiva Capital LP now owns 3,009 shares of the scientific and technical instruments company's stock worth $318,000 after buying an additional 171 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Transcat by 18.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,567 shares of the scientific and technical instruments company's stock valued at $378,000 after buying an additional 559 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Price Performance

Shares of TRNS traded down $3.35 during mid-day trading on Wednesday, reaching $75.62. 101,645 shares of the stock traded hands, compared to its average volume of 104,325. The company has a market cap of $704.78 million, a price-to-earnings ratio of 52.88 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 firm has a fifty day moving average price of $82.46 and a 200 day moving average price of $80.71. 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 (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $72.28 million. As a group, equities research analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

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