JPMorgan Chase & Co. Acquires 22,164 Shares of Transcat, Inc. $TRNS

Key Points

• JPMorgan Chase boosted its stake in Transcat by 259.1% in Q3, acquiring an additional 22,164 shares to own 30,719 shares (about 0.33% of the company) valued at $2.249 million.
• Several other major institutions — including Vanguard, Bamco, Ameriprise, ArrowMark and Bank of America — also increased positions, and institutional investors collectively own 98.34% of Transcat.
• Transcat trades around $75.48 with a $704M market cap and a P/E of 88.8; it missed EPS estimates last quarter ($0.26 vs. $0.30) but topped revenue, and analysts have an average rating of “Moderate Buy” with an average price target of $105.33.

JPMorgan Chase & Co. increased its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 259.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,719 shares of the scientific and technical instruments company's stock after acquiring an additional 22,164 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of Transcat worth $2,249,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Transcat by 0.4% in the third quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company's stock valued at $38,852,000 after acquiring an additional 2,041 shares during the last quarter. Bamco Inc. NY boosted its holdings in Transcat by 14.2% in the third quarter. Bamco Inc. NY now owns 191,566 shares of the scientific and technical instruments company's stock valued at $14,023,000 after acquiring an additional 23,853 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Transcat by 30.9% in the second quarter. Ameriprise Financial Inc. now owns 116,032 shares of the scientific and technical instruments company's stock valued at $9,974,000 after acquiring an additional 27,372 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Transcat by 45.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 85,371 shares of the scientific and technical instruments company's stock valued at $6,249,000 after acquiring an additional 26,659 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Transcat by 12.3% in the third quarter. Bank of America Corp DE now owns 68,429 shares of the scientific and technical instruments company's stock valued at $5,009,000 after acquiring an additional 7,490 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Transcat Trading Down 0.9%

NASDAQ:TRNS opened at $75.48 on Tuesday. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $97.08. The business's 50-day moving average price is $73.34 and its two-hundred day moving average price is $66.79. The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $704.23 million, a price-to-earnings ratio of 88.80 and a beta of 0.71.

Transcat (NASDAQ:TRNS - Get Free Report) last released its earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The company had revenue of $83.86 million during the quarter, compared to analyst estimates of $80.99 million. On average, equities analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on TRNS. Zacks Research upgraded Transcat from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Transcat in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Transcat presently has an average rating of "Moderate Buy" and an average price target of $105.33.

About Transcat

Transcat, Inc NASDAQ: TRNS is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.

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