Osterweis Capital Management Inc. Sells 14,982 Shares of Transcat, Inc. $TRNS

Key Points

• Osterweis Capital Management Inc. has reduced its position in Transcat, Inc. by 16.7%, selling 14,982 shares to now hold 74,483 shares valued at approximately $5.55 million.
• Institutional investors own approximately 98.34% of Transcat's stock, with several major funds significantly increasing their positions in the company recently.
• Transcat reported earnings of $0.59 per share for the most recent quarter, surpassing analysts’ expectations and leading to a consensus rating of "Moderate Buy" among investment analysts.

Osterweis Capital Management Inc. reduced its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 16.7% in the first quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNS. Royal Bank of Canada boosted its position in shares of Transcat by 328.4% during the 4th quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock valued at $18,348,000 after acquiring an additional 133,013 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Transcat by 17.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock valued at $45,218,000 after acquiring an additional 88,763 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Transcat by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock valued at $13,404,000 after acquiring an additional 70,461 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Transcat by 5.8% during 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 acquiring an additional 52,328 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Transcat by 5.5% in the first quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock worth $68,635,000 after buying an additional 47,913 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Performance

TRNS stock opened at $76.41 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. The business's fifty day simple moving average is $82.19 and its two-hundred day simple moving average is $80.66. Transcat, Inc. has a twelve month low of $67.56 and a twelve month high of $133.72. The firm has a market cap of $712.14 million, a price-to-earnings ratio of 53.43 and a beta of 0.72.

Transcat (NASDAQ:TRNS - Get Free Report) last released its 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. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The business had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.28 million. Analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

TRNS has been the subject of a number of analyst reports. HC Wainwright restated a "buy" rating and issued a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. Finally, Lake Street Capital initiated coverage on Transcat in a research report on Thursday, July 10th. They issued a "buy" rating and a $105.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.20.

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.

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