Transcat, Inc. (NASDAQ:TRNS) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 328.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,514 shares of the scientific and technical instruments company's stock after buying an additional 133,013 shares during the quarter. Royal Bank of Canada owned approximately 1.86% of Transcat worth $18,348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp raised its holdings in Transcat by 686.7% in the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 309 shares during the period. Aquatic Capital Management LLC raised its holdings in Transcat by 1,052.0% in the 4th quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,052 shares during the period. Morgan Dempsey Capital Management LLC acquired a new position in Transcat in the 4th quarter worth about $143,000. SG Americas Securities LLC acquired a new position in Transcat in the 4th quarter worth about $182,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Transcat in the 4th quarter worth about $190,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Transcat Price Performance

Shares of Transcat stock traded up $0.72 during mid-day trading on Tuesday, reaching $92.04. 75,704 shares of the stock traded hands, compared to its average volume of 82,135. The business has a 50-day moving average of $80.28 and a 200 day moving average of $89.38. Transcat, Inc. has a fifty-two week low of $67.56 and a fifty-two week high of $147.12. The stock has a market capitalization of $856.80 million, a PE ratio of 49.75 and a beta of 0.69. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14.

Transcat (NASDAQ:TRNS - Get Free Report) last announced 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 firm had revenue of $77.13 million for the quarter, compared to analyst estimates of $76.40 million. Transcat's quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that Transcat, Inc. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRNS. Northland Securities reaffirmed a "market perform" rating and issued a $85.00 price target (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. HC Wainwright reaffirmed a "buy" rating and issued a $116.00 price target (up previously from $106.00) on shares of Transcat in a report on Wednesday, May 21st. Oppenheimer cut Transcat from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Finally, Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Transcat has an average rating of "Hold" and an average target price of $114.00.

Transcat 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.