Transcat, Inc. $TRNS Holdings Decreased by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. has decreased its holdings in Transcat, Inc. by 16.7%, owning approximately 0.80% of the company valued at $5.5 million after selling nearly 15,000 shares.
• Research analysts have given Transcat a consensus rating of "Moderate Buy" with an average price target of $112.20, reflecting growing confidence in the stock.
• Transcat reported a significant earnings beat with an EPS of $0.59 for the last quarter, surpassing estimates, and had revenue of $76.42 million against expectations of $72.28 million.

Osterweis Capital Management Inc. decreased its position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 16.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,483 shares of the scientific and technical instruments company's stock after selling 14,982 shares during the quarter. Osterweis Capital Management Inc. owned about 0.80% of Transcat worth $5,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TRNS. Centiva Capital LP raised its holdings in shares of 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 period. Bank of New York Mellon Corp raised its holdings in shares of Transcat by 0.6% during the 1st 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 buying an additional 172 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Transcat by 3.9% during the 4th 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 buying an additional 194 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Transcat by 3.4% during the 1st 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 buying an additional 210 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Transcat by 14.6% during 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 buying an additional 226 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Stock Up 5.1%

TRNS stock traded up $4.40 during midday trading on Friday, hitting $90.43. 84,187 shares of the company's stock were exchanged, compared to its average volume of 85,053. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $133.72. The firm has a 50 day moving average price of $82.82 and a 200-day moving average price of $80.66. The stock has a market capitalization of $842.81 million, a price-to-earnings ratio of 63.24 and a beta of 0.71.

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, beating analysts' consensus estimates of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The business had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. On average, analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Lake Street Capital assumed coverage on Transcat in a report on Thursday, July 10th. They set 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 report on Wednesday, May 28th. Finally, HC Wainwright reiterated a "buy" rating and set a $116.00 target price on shares of Transcat in a report on Friday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $112.20.

About Transcat

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.