Needham Investment Management LLC Purchases 14,300 Shares of Transcat, Inc. $TRNS

Key Points

• Needham Investment Management LLC increased its stake in Transcat, Inc. by 28.2%, owning 65,000 shares worth approximately $4.84 million.
• Transcat reported $0.59 earnings per share, significantly exceeding analysts' expectations of $0.40, along with a revenue of $76.42 million for the quarter.
• Multiple analysts have updated their ratings on Transcat, with HC Wainwright setting a target price of $116.00 and a consensus price target of $112.20 across analysts.

Needham Investment Management LLC lifted its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,000 shares of the scientific and technical instruments company's stock after buying an additional 14,300 shares during the period. Needham Investment Management LLC owned approximately 0.70% of Transcat worth $4,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Transcat in the first quarter valued at approximately $76,000. State of Wyoming bought a new stake in shares of Transcat in the first quarter valued at approximately $95,000. GAMMA Investing LLC boosted its stake in shares of Transcat by 10,137.5% in the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock valued at $122,000 after buying an additional 1,622 shares during the period. US Bancorp DE lifted its stake in Transcat by 14.6% during the first quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company's stock worth $132,000 after purchasing an additional 226 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Transcat by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock valued at $269,000 after buying an additional 837 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Transcat Trading Up 0.6%

Shares of Transcat stock traded up $0.48 during midday trading on Thursday, reaching $76.10. The company had a trading volume of 38,930 shares, compared to its average volume of 107,169. The stock has a fifty day moving average price of $82.46 and a 200 day moving average price of $80.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. The firm has a market cap of $709.21 million, a PE ratio of 52.99 and a beta of 0.72. Transcat, Inc. has a fifty-two week low of $67.56 and a fifty-two week high of $133.72.

Transcat (NASDAQ:TRNS - Get Free Report) last posted 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. The company had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.28 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. On average, equities analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Lake Street Capital began coverage on shares of Transcat in a research report on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $116.00 price objective on shares of Transcat in a research report on Friday, August 22nd. Finally, Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently 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.