Riverbridge Partners LLC Has $37.89 Million Holdings in Transcat, Inc. $TRNS

Key Points

• Riverbridge Partners LLC increased its holdings in Transcat, Inc. by 94.3% during the 2nd quarter, owning 440,747 shares valued at approximately $37.89 million.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $112.20.
• Transcat reported earnings of $0.59 per share for the latest quarter, surpassing expectations and achieving revenue of $76.42 million.

Riverbridge Partners LLC grew its stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 94.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 440,747 shares of the scientific and technical instruments company's stock after acquiring an additional 213,927 shares during the period. Riverbridge Partners LLC owned 4.73% of Transcat worth $37,887,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TRNS. Quantbot Technologies LP acquired a new stake in Transcat during the first quarter worth approximately $76,000. State of Wyoming acquired a new stake in shares of Transcat in the first quarter valued at approximately $95,000. GAMMA Investing LLC raised its position in shares of Transcat by 10,137.5% in the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock valued at $122,000 after buying an additional 1,622 shares in the last quarter. US Bancorp DE raised its position in shares of Transcat by 14.6% in the first 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 in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Transcat by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock valued at $269,000 after buying an additional 837 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TRNS shares. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. HC Wainwright reiterated a "buy" rating and issued a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Finally, Lake Street Capital started coverage on shares of Transcat in a research report on Thursday, July 10th. They issued a "buy" rating and a $105.00 price target for the company. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Stock Performance

Shares of NASDAQ:TRNS opened at $72.40 on Thursday. The company's 50 day simple moving average is $79.96 and its 200 day simple moving average is $80.42. The stock has a market capitalization of $674.77 million, a price-to-earnings ratio of 50.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. Transcat, Inc. has a 1 year low of $67.56 and a 1 year high of $133.40.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.19. The business had revenue of $76.42 million for the quarter, compared to analysts' expectations of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. As a group, research analysts predict that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Transcat Company 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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