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

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Transcat during the 1st quarter worth approximately $76,000. State of Wyoming acquired a new position in shares of Transcat during the 1st quarter worth approximately $95,000. GAMMA Investing LLC boosted its holdings in shares of Transcat by 10,137.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,622 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Transcat by 14.6% during the 1st 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 holdings in shares of Transcat by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock worth $269,000 after purchasing an additional 837 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Trading Down 4.2%

NASDAQ TRNS traded down $3.35 on Wednesday, reaching $75.62. The stock had a trading volume of 101,644 shares, compared to its average volume of 107,583. The firm has a market capitalization of $704.78 million, a price-to-earnings ratio of 52.88 and a beta of 0.72. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $133.72. The stock has a fifty day moving average price of $82.72 and a two-hundred day moving average price of $80.74.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its 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. 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%. As a group, sell-side analysts forecast that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

TRNS has been the topic of several recent research reports. Lake Street Capital initiated coverage on Transcat in a report on Thursday, July 10th. They set a "buy" rating and a $105.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $116.00 price objective on shares of Transcat in a report on Friday, August 22nd. Finally, Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a 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. According to data from MarketBeat.com, Transcat 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.