Neuberger Berman Group LLC Has $68.64 Million Position in Transcat, Inc. (NASDAQ:TRNS)

Key Points

• Neuberger Berman Group LLC increased its stake in Transcat, Inc. by 5.5%, acquiring an additional 47,913 shares, bringing its total to 921,898 shares valued at approximately $68.6 million.
• Several hedge funds, including JPMorgan Chase and Wells Fargo, have also significantly increased their holdings in Transcat during the fourth quarter, indicating strong institutional interest in the stock.
• Wall Street analysts have upgraded Transcat with a consensus rating of "Moderate Buy" and an average price target of $112.20, reflecting positive sentiment regarding the company's future performance.

Neuberger Berman Group LLC raised its holdings in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 921,898 shares of the scientific and technical instruments company's stock after purchasing an additional 47,913 shares during the quarter. Neuberger Berman Group LLC owned 9.90% of Transcat worth $68,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TRNS. Aquatic Capital Management LLC boosted its position in shares of Transcat by 1,052.0% during the 4th quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock worth $122,000 after acquiring an additional 1,052 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Transcat by 10,137.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after buying an additional 1,622 shares in the last quarter. US Bancorp DE increased its stake in Transcat by 14.6% in 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 purchasing an additional 226 shares in the last quarter. ProShare Advisors LLC increased its stake 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 valued at $269,000 after purchasing an additional 837 shares in the last quarter. Finally, Centiva Capital LP grew its holdings in Transcat by 6.0% during the 4th quarter. Centiva Capital LP now owns 3,009 shares of the scientific and technical instruments company's stock valued at $318,000 after buying an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

TRNS has been the topic of several research reports. Lake Street Capital assumed coverage on Transcat in a research report on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price on the stock. 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 set a $116.00 price objective on shares of Transcat in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $112.20.

Transcat Trading Up 0.1%

NASDAQ TRNS traded up $0.07 on Friday, hitting $81.54. 54,826 shares of the stock were exchanged, compared to its average volume of 82,974. 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. The company has a market capitalization of $759.95 million, a price-to-earnings ratio of 57.02 and a beta of 0.71. The company's 50-day moving average price is $81.95 and its two-hundred day moving average price is $80.41.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.19. The business had revenue of $76.42 million for 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%. Research analysts predict that Transcat, Inc. will post 2.3 EPS for the current 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.