King Luther Capital Management Corp Invests $838,000 in Transcat, Inc. (NASDAQ:TRNS)

Key Points

• King Luther Capital Management Corp acquired a new stake in Transcat, Inc. worth approximately $838,000 by purchasing 11,250 shares.
• Analysts have a consensus rating of "Moderate Buy" for Transcat, with a target price averaging $112.20, signaling potential growth prospects.
• Transcat reported a quarterly EPS of $0.59, exceeding estimates, and achieved revenues of $76.42 million, indicating robust performance in the scientific and technical instruments sector.

King Luther Capital Management Corp bought a new position in Transcat, Inc. (NASDAQ:TRNS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,250 shares of the scientific and technical instruments company's stock, valued at approximately $838,000. King Luther Capital Management Corp owned approximately 0.12% of Transcat at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TRNS. Centiva Capital LP lifted its position in Transcat by 6.0% in the fourth quarter. Centiva Capital LP now owns 3,009 shares of the scientific and technical instruments company's stock valued at $318,000 after purchasing an additional 171 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Transcat by 0.6% during 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 acquiring an additional 172 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 acquiring an additional 194 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Transcat by 3.4% during the first 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 acquiring an additional 210 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of 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 acquiring an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

TRNS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. HC Wainwright restated a "buy" rating and set a $116.00 target price on shares of Transcat in a report on Wednesday, June 25th. Finally, Lake Street Capital initiated coverage on Transcat in a report on Thursday, July 10th. They set a "buy" rating and a $105.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Transcat presently has an average rating of "Moderate Buy" and an average target price of $112.20.

Transcat Stock Up 0.1%

TRNS stock traded up $0.07 during midday trading on Friday, hitting $81.54. The stock had a trading volume of 54,826 shares, compared to its average volume of 82,974. The firm has a market cap of $759.95 million, a price-to-earnings ratio of 57.02 and a beta of 0.71. The business has a 50-day moving average of $81.95 and a two-hundred day moving average of $80.41. Transcat, Inc. has a 52-week low of $67.56 and a 52-week 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 issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. The company had revenue of $76.42 million for the quarter, compared to analysts' expectations of $72.28 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. As a group, equities research analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Transcat Company 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.