King Luther Capital Management Corp Takes $838,000 Position 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 purchased a new stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,250 shares of the scientific and technical instruments company's stock, valued at approximately $838,000. King Luther Capital Management Corp owned 0.12% of Transcat as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its holdings in Transcat by 5.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock valued at $71,268,000 after purchasing an additional 52,328 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Transcat by 35.7% in the 4th quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company's stock valued at $58,754,000 after purchasing an additional 146,150 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Transcat by 178.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 518,597 shares of the scientific and technical instruments company's stock valued at $54,837,000 after purchasing an additional 332,064 shares during the last quarter. Royce & Associates LP increased its holdings in Transcat by 1.1% in the 1st quarter. Royce & Associates LP now owns 478,581 shares of the scientific and technical instruments company's stock valued at $35,630,000 after purchasing an additional 5,327 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Transcat by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 219,354 shares of the scientific and technical instruments company's stock valued at $23,200,000 after purchasing an additional 1,881 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TRNS shares. Lake Street Capital started coverage on shares of Transcat in a report on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price for the company. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $116.00 target price on shares of Transcat in a report on Wednesday, June 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Stock Performance

NASDAQ:TRNS opened at $83.04 on Wednesday. The company has a fifty day simple moving average of $81.73 and a two-hundred day simple moving average of $80.48. The company has a market cap of $773.93 million, a price-to-earnings ratio of 58.07 and a beta of 0.71. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. Transcat, Inc. has a 52 week low of $67.56 and a 52 week high of $133.72.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.40 by $0.19. The business had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. As a group, equities analysts anticipate 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.

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