Royal Bank of Canada Has $12.16 Million 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 trimmed its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,304 shares of the scientific and technical instruments company's stock after selling 10,210 shares during the quarter. Royal Bank of Canada owned 1.75% of Transcat worth $12,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRNS. T. Rowe Price Investment Management Inc. boosted its position in shares of Transcat by 17.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock worth $45,218,000 after purchasing an additional 88,763 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Transcat by 64.3% during the first quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock worth $13,404,000 after purchasing an additional 70,461 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Transcat by 5.8% during the first quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock worth $71,268,000 after purchasing an additional 52,328 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Transcat by 5.5% during the first quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock worth $68,635,000 after purchasing an additional 47,913 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in shares of Transcat by 7.6% during the first quarter. Champlain Investment Partners LLC now owns 598,026 shares of the scientific and technical instruments company's stock worth $44,523,000 after purchasing an additional 42,376 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Transcat Stock Up 1.0%

Shares of NASDAQ:TRNS traded up $0.70 during midday trading on Wednesday, reaching $72.61. 142,177 shares of the company were exchanged, compared to its average volume of 111,285. Transcat, Inc. has a fifty-two week low of $67.56 and a fifty-two week high of $133.72. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $81.04 and a two-hundred day simple moving average of $80.43. The firm has a market cap of $676.73 million, a PE ratio of 50.78 and a beta of 0.72.

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

Wall Street Analysts Forecast Growth

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

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.