Royal Bank of Canada Increases Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Royal Bank of Canada increased its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 328.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,514 shares of the scientific and technical instruments company's stock after buying an additional 133,013 shares during the period. Royal Bank of Canada owned 1.86% of Transcat worth $18,348,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its holdings in Transcat by 1.8% during the fourth quarter. Neuberger Berman Group LLC now owns 873,985 shares of the scientific and technical instruments company's stock worth $92,415,000 after buying an additional 15,723 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Transcat by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 209,200 shares of the scientific and technical instruments company's stock worth $22,121,000 after buying an additional 10,186 shares in the last quarter. Rhumbline Advisers lifted its holdings in Transcat by 4.1% during the fourth quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company's stock valued at $1,306,000 after purchasing an additional 486 shares in the last quarter. Barclays PLC lifted its holdings in Transcat by 393.0% during the third quarter. Barclays PLC now owns 15,130 shares of the scientific and technical instruments company's stock valued at $1,826,000 after purchasing an additional 12,061 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Transcat by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 5,002 shares of the scientific and technical instruments company's stock valued at $529,000 after purchasing an additional 391 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $116.00 price objective (up from $106.00) on shares of Transcat in a report on Wednesday, May 21st. Oppenheimer downgraded shares of Transcat from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Northland Securities reaffirmed a "market perform" rating and set a $85.00 price objective (down from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Finally, Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Transcat presently has an average rating of "Hold" and an average target price of $114.00.

Transcat Price Performance

Shares of NASDAQ TRNS traded down $0.39 during mid-day trading on Thursday, reaching $88.95. The company's stock had a trading volume of 29,207 shares, compared to its average volume of 81,871. The stock has a 50-day moving average of $80.69 and a two-hundred day moving average of $89.38. The stock has a market capitalization of $828.04 million, a P/E ratio of 48.08 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $147.12.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). Transcat had a net margin of 6.22% and a return on equity of 7.23%. The business had revenue of $77.13 million during the quarter, compared to analyst estimates of $76.40 million. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

About Transcat

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.