Punch & Associates Investment Management Inc. Takes Position in Transcat, Inc. $TRNS

Key Points

• Punch & Associates acquired 80,087 Transcat shares worth approximately $7.43 million in the second quarter, giving it a 0.86% stake. Institutional investors collectively own 98.34% of the company.
• Transcat exceeded quarterly expectations, reporting earnings of $0.51 per share versus the $0.38 estimate and revenue of $92.95 million versus the $86.55 million consensus.
• Analyst sentiment remains cautious: the consensus rating is “Reduce” with a $95 price target, while the stock recently traded at $89.66 and has a notably high P/E ratio of 242.32.

Punch & Associates Investment Management Inc. acquired a new stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 80,087 shares of the scientific and technical instruments company's stock, valued at approximately $7,430,000. Punch & Associates Investment Management Inc. owned 0.86% of Transcat at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bamco Inc. NY bought a new stake in shares of Transcat during the second quarter valued at approximately $17,649,000. Bank of America Corp DE bought a new position in Transcat during the 2nd quarter valued at $2,386,000. Jupiter Topco LLC acquired a new position in shares of Transcat during the 2nd quarter valued at $472,000. Hsbc Holdings PLC acquired a new position in shares of Transcat during the 2nd quarter valued at $289,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Transcat in the 2nd quarter worth $204,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Stock Performance

Shares of TRNS stock opened at $89.66 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. The firm has a market cap of $839.22 million, a P/E ratio of 242.32 and a beta of 0.68. Transcat, Inc. has a fifty-two week low of $50.23 and a fifty-two week high of $100.00. The stock's 50-day moving average is $90.10 and its two-hundred day moving average is $82.39.

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

Insider Buying and Selling at Transcat

In other news, Director Craig D. Cairns bought 1,050 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the purchase, the director owned 1,480 shares of the company's stock, valued at $139,075.60. This represents a 244.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher P. Gillette sold 504 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 200 shares in the company, valued at approximately $18,846. This represents a 71.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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