Royal Bank of Canada Lowers Stock Position in Transcat, Inc. $TRNS

Key Points

• The Royal Bank of Canada reduced its stake in Transcat, Inc. by 5.9%, now holding 163,304 shares valued at approximately $12.16 million.
• Despite the cut by RBC, several other hedge funds increased their holdings in Transcat, including Deutsche Bank AG, which boosted its stake by 49.9% during the fourth quarter.
• Transcat's recent quarterly earnings exceeded forecasts, reporting earnings per share of $0.59 versus an expected $0.40, with revenues also surpassing estimates at $76.42 million.

Royal Bank of Canada cut its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,304 shares of the scientific and technical instruments company's stock after selling 10,210 shares during the period. Royal Bank of Canada owned 1.75% of Transcat worth $12,158,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TRNS. Price T Rowe Associates Inc. MD boosted its holdings in Transcat by 18.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,567 shares of the scientific and technical instruments company's stock worth $378,000 after buying an additional 559 shares in the last quarter. Northern Trust Corp boosted its holdings in Transcat by 6.7% during the fourth quarter. Northern Trust Corp now owns 114,755 shares of the scientific and technical instruments company's stock worth $12,134,000 after buying an additional 7,171 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Transcat by 2.6% during the fourth quarter. Ameriprise Financial Inc. now owns 70,997 shares of the scientific and technical instruments company's stock worth $7,507,000 after buying an additional 1,804 shares in the last quarter. Deutsche Bank AG boosted its holdings in Transcat by 49.9% during the fourth quarter. Deutsche Bank AG now owns 7,833 shares of the scientific and technical instruments company's stock worth $828,000 after buying an additional 2,608 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Transcat by 38.8% during the fourth quarter. Janus Henderson Group PLC now owns 19,344 shares of the scientific and technical instruments company's stock worth $2,046,000 after buying an additional 5,403 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Performance

NASDAQ:TRNS opened at $76.41 on Friday. The company's 50-day moving average price is $82.19 and its 200-day moving average price is $80.66. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. The company has a market cap of $712.14 million, a P/E ratio of 53.43 and a beta of 0.72. Transcat, Inc. has a twelve month low of $67.56 and a twelve month high of $133.72.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. The firm had revenue of $76.42 million for the quarter, compared to the consensus estimate of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. On average, sell-side analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TRNS shares. Lake Street Capital initiated coverage on shares of Transcat in a report on Thursday, July 10th. They set a "buy" rating and a $105.00 price target on the stock. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $116.00 price objective on shares of Transcat in a report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.20.

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.

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