Osterweis Capital Management Inc. Buys Shares of 132,797 Transcat, Inc. $TRNS

Key Points

• Osterweis Capital Management initiated a 132,797-share Transcat position worth approximately $12.3 million, while institutional investors collectively own 98.34% of the company.
• Transcat exceeded quarterly expectations, reporting $0.51 EPS versus a $0.38 consensus estimate and revenue of $92.95 million versus $86.55 million expected.
• Analyst sentiment remains cautious: the stock carries a “Reduce” average rating and a $95 target, while shares recently opened at $87.38 after trading between $50.23 and $100.00 over the past year.

Osterweis Capital Management Inc. purchased a new stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,797 shares of the scientific and technical instruments company's stock, valued at approximately $12,320,000. Osterweis Capital Management Inc. owned 1.42% of Transcat as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRNS. BlackRock Inc. acquired a new stake in shares of Transcat during the second quarter worth $67,445,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Transcat in the second quarter valued at about $37,106,000. Wellington Management Group LLP boosted its holdings in Transcat by 677.7% during the fourth quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company's stock worth $14,100,000 after buying an additional 216,579 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Transcat during the fourth quarter worth about $7,259,000. Finally, King Luther Capital Management Corp grew its position in shares of Transcat by 182.3% during the 4th quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company's stock worth $5,886,000 after buying an additional 67,000 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Transcat

In related news, Director Christopher P. Gillette sold 504 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the completion of the transaction, the director directly owned 200 shares of the company's stock, valued at approximately $18,846. This represents a 71.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig D. Cairns bought 1,050 shares of the stock in a transaction on Thursday, August 6th. The shares were purchased at an average price of $93.97 per share, with a total value of $98,668.50. Following the acquisition, the director owned 1,480 shares in the company, valued at approximately $139,075.60. This represents a 244.19% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.80% of the company's stock.

Transcat Price Performance

Shares of TRNS opened at $87.38 on Tuesday. The stock has a 50 day simple moving average of $90.18 and a 200 day simple moving average of $82.13. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49. The firm has a market capitalization of $817.88 million, a PE ratio of 236.16 and a beta of 0.68.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The firm had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million. Sell-side analysts predict that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Northland Securities cut Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price target for the company. in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Zacks Research raised shares of Transcat from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $95.00.

Transcat Company Profile

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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