Rice Hall James & Associates LLC Takes Position in Transcat, Inc. $TRNS

Key Points

• Rice Hall James & Associates acquired 56,325 Transcat shares worth approximately $5.23 million, representing about 0.60% of the company. Institutional investors collectively own 98.34% of TRNS.
• Transcat reported quarterly EPS of $0.51, exceeding the $0.38 consensus estimate, while revenue of $92.95 million also topped expectations of $86.55 million.
• TRNS traded near $93.84, close to its 52-week high, but analysts maintain a consensus “Hold” rating with an average price target of $105.50; recent insider activity included both a director sale and a larger director purchase.

Rice Hall James & Associates LLC bought a new stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 56,325 shares of the scientific and technical instruments company's stock, valued at approximately $5,225,000. Rice Hall James & Associates LLC owned about 0.60% of Transcat as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TRNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Transcat by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company's stock worth $407,000 after purchasing an additional 325 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Transcat during the first quarter valued at about $1,674,000. JPMorgan Chase & Co. increased its holdings in shares of Transcat by 88.3% in the second quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company's stock worth $735,000 after buying an additional 4,012 shares during the period. Legal & General Group Plc lifted its stake in shares of Transcat by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company's stock valued at $821,000 after acquiring an additional 548 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Transcat by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company's stock valued at $1,390,000 after acquiring an additional 3,061 shares during the period. Hedge funds and other institutional investors own 98.34% of the company's stock.

Transcat Stock Performance

Transcat stock opened at $93.84 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 0.36. The firm has a market cap of $878.34 million, a P/E ratio of 253.62 and a beta of 0.68. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $100.00. The firm has a 50-day moving average of $90.13 and a 200-day moving average of $81.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRNS. Weiss Ratings raised Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Zacks Research upgraded shares of Transcat from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Finally, 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 research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Transcat presently has an average rating of "Hold" and an average target price of $105.50.

Insider Buying and Selling

In other news, Director Christopher P. Gillette sold 504 shares of Transcat stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director directly owned 200 shares in the company, valued at approximately $18,846. This trade represents a 71.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig D. Cairns bought 1,050 shares of Transcat stock in a transaction dated 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 completion of the purchase, the director directly owned 1,480 shares of the company's stock, valued at approximately $139,075.60. This trade represents a 244.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.80% of the stock is currently owned by company insiders.

Transcat 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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