TD Asset Management Inc Grows Stake in Transcat, Inc. (NASDAQ:TRNS)

Key Points

• TD Asset Management Inc increased its holdings in Transcat, Inc. by 22.9% during the first quarter, now owning $1.50 million worth of shares.
• Multiple large investors, including Bessemer Group Inc, significantly raised their stakes in Transcat, reflecting growing institutional interest in the company.
• Transcat's stock has an average price target of $112.20 and currently holds a consensus rating of "Moderate Buy" from analysts.

TD Asset Management Inc grew its position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,184 shares of the scientific and technical instruments company's stock after purchasing an additional 3,762 shares during the period. TD Asset Management Inc owned approximately 0.22% of Transcat worth $1,503,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Transcat by 178.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 518,597 shares of the scientific and technical instruments company's stock valued at $54,837,000 after buying an additional 332,064 shares during the period. Champlain Investment Partners LLC boosted its stake in Transcat by 35.7% in the fourth quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company's stock worth $58,754,000 after buying an additional 146,150 shares in the last quarter. Royal Bank of Canada increased its position in shares of Transcat by 328.4% during the fourth quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock valued at $18,348,000 after buying an additional 133,013 shares during the period. Granahan Investment Management LLC raised its position 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 during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Transcat by 1,692.4% in the 4th quarter. Bessemer Group Inc. now owns 109,608 shares of the scientific and technical instruments company's stock worth $11,590,000 after acquiring an additional 103,493 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on TRNS shares. HC Wainwright reiterated a "buy" rating and issued a $116.00 target price on shares of Transcat in a research note on Wednesday, June 25th. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Finally, Lake Street Capital began coverage on Transcat in a research note on Thursday, July 10th. They set a "buy" rating and a $105.00 target price for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $112.20.

Transcat Price Performance

Shares of TRNS traded up $4.00 during trading hours on Thursday, reaching $81.92. The stock had a trading volume of 154,177 shares, compared to its average volume of 106,737. The stock has a market capitalization of $763.45 million, a PE ratio of 52.22 and a beta of 0.71. The company's 50-day moving average is $82.25 and its two-hundred day moving average is $81.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.87 and a current ratio of 2.29. Transcat, Inc. has a 12 month low of $67.56 and a 12 month high of $133.72.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.19. Transcat had a return on equity of 6.47% and a net margin of 5.21%. The business had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. Research analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

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.