Summit Creek Advisors LLC Buys New Shares in Transcat, Inc. $TRNS

Key Points

• Summit Creek Advisors initiated a 46,970-share Transcat position worth approximately $4.36 million, representing 0.50% of the company. Institutional investors and hedge funds collectively own 98.34% of Transcat.
• Transcat reported quarterly earnings of $0.51 per share, beating estimates of $0.38, while revenue reached $92.95 million versus the $86.55 million consensus forecast.
• TRNS traded at $90.97, near its 52-week high, while analysts held a consensus “Hold” rating with an average price target of $105.50. The stock carries a high valuation, including a P/E ratio of 245.86.

Summit Creek Advisors LLC bought a new position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,970 shares of the scientific and technical instruments company's stock, valued at approximately $4,357,000. Summit Creek Advisors LLC owned 0.50% of Transcat at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company's stock valued at $407,000 after buying an additional 325 shares during the period. Jane Street Group LLC purchased a new position in shares of Transcat during the 1st quarter worth about $1,674,000. JPMorgan Chase & Co. boosted its position in shares of Transcat by 88.3% in the second quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company's stock worth $735,000 after acquiring an additional 4,012 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Transcat by 6.1% in the second quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company's stock worth $821,000 after acquiring an additional 548 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Transcat by 23.3% in the second quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company's stock valued at $1,390,000 after purchasing an additional 3,061 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Price Performance

Transcat stock opened at $90.97 on Wednesday. The firm has a fifty day moving average of $90.15 and a 200-day moving average of $81.30. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $100.00. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $851.48 million, a P/E ratio of 245.86 and a beta of 0.68.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The business had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. As a group, analysts predict that Transcat, Inc. will post 1.74 EPS for the current year.

Insider Activity

In other Transcat news, Director Christopher P. Gillette sold 504 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the transaction, the director owned 200 shares in the company, valued at $18,846. The trade was a 71.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig D. Cairns bought 1,050 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $93.97 per share, with a total value of $98,668.50. Following the transaction, the director directly owned 1,480 shares of the company's stock, valued at approximately $139,075.60. This trade represents a 244.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TRNS shares. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Weiss Ratings raised shares of Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Zacks Research upgraded Transcat from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Finally, Northland Securities lowered Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 target price on the stock. in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Transcat currently has a consensus rating of "Hold" and an average target price of $105.50.

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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