Roubaix Capital LLC Cuts Stake in Transcat, Inc. $TRNS

Key Points

• Roubaix Capital LLC cut its Transcat stake by 26.8% in the first quarter, selling 31,129 shares and leaving it with 84,982 shares valued at about $6.24 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 98.34% of Transcat’s shares; several firms also recently added to or initiated positions.
• Analyst sentiment has improved slightly, with recent rating upgrades contributing to a consensus “Moderate Buy” and a target price of $105.50, while Transcat’s stock was trading around $87.90 after a 2.1% decline.

Roubaix Capital LLC lessened its stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 26.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,982 shares of the scientific and technical instruments company's stock after selling 31,129 shares during the quarter. Transcat accounts for 2.9% of Roubaix Capital LLC's investment portfolio, making the stock its 11th biggest position. Roubaix Capital LLC owned 0.91% of Transcat worth $6,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of TRNS. Lazard Asset Management LLC purchased a new stake in shares of Transcat during the 2nd quarter valued at about $54,000. Tower Research Capital LLC TRC boosted its stake in shares of Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 798 shares during the period. Marshall Wace LLP acquired a new stake in Transcat during the 4th quarter valued at $236,000. Balyasny Asset Management L.P. acquired a new stake in Transcat during the 4th quarter valued at $247,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Transcat by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,265 shares of the scientific and technical instruments company's stock valued at $299,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Weiss Ratings upgraded Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Finally, Zacks Research raised Transcat from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Transcat has a consensus rating of "Moderate Buy" and a consensus target price of $105.50.

Transcat Trading Down 2.1%

NASDAQ TRNS opened at $87.90 on Friday. The company has a market capitalization of $820.99 million, a price-to-earnings ratio of 151.55 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99. Transcat, Inc. has a 12 month low of $50.23 and a 12 month high of $95.22. The company's fifty day moving average price is $85.88 and its two-hundred day moving average price is $76.82.

Transcat (NASDAQ:TRNS - Get Free Report) last released its earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $89.33 million during the quarter, compared to the consensus estimate of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. As a group, research analysts predict that Transcat, Inc. will post 1.71 earnings per share for the current fiscal year.

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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