T. Rowe Price Investment Management Inc. Acquires 88,763 Shares of Transcat, Inc. $TRNS

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Transcat, Inc. by 17.1%, now owning a total of 607,360 shares valued at approximately $45.2 million.
• In the previous quarter, several institutional investors, including Royal Bank of Canada and Granahan Investment Management, also significantly boosted their holdings in Transcat, indicating strong institutional interest in the company.
• Transcat's recent quarterly earnings surpassed expectations, reporting $0.59 EPS against a consensus estimate of $0.40, along with a revenue of $76.42 million compared to estimates of $72.28 million.

T. Rowe Price Investment Management Inc. boosted its holdings in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 607,360 shares of the scientific and technical instruments company's stock after acquiring an additional 88,763 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.52% of Transcat worth $45,218,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRNS. Royal Bank of Canada increased its stake in Transcat by 328.4% in the 4th quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock worth $18,348,000 after acquiring an additional 133,013 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in shares of Transcat by 132.0% in the 4th quarter. Granahan Investment Management LLC now owns 188,763 shares of the scientific and technical instruments company's stock worth $19,960,000 after purchasing an additional 107,389 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Transcat by 133.4% in the 4th quarter. First Trust Advisors LP now owns 153,196 shares of the scientific and technical instruments company's stock worth $16,199,000 after purchasing an additional 87,568 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Transcat by 64.3% in the 1st 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. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Transcat by 5.8% in the 1st 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. 98.34% of the stock is currently owned by institutional investors.

Transcat Price Performance

TRNS opened at $90.43 on Friday. The stock's 50 day simple moving average is $82.82 and its 200 day simple moving average is $80.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. Transcat, Inc. has a 1 year low of $67.56 and a 1 year high of $133.72. The firm has a market cap of $842.81 million, a price-to-earnings ratio of 63.24 and a beta of 0.71.

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 (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The business had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.28 million. As a group, analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital assumed coverage on Transcat in a report on Thursday, July 10th. They issued a "buy" rating and a $105.00 price objective for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $116.00 price objective on shares of Transcat in a report on Friday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.