Transcat, Inc. $TRNS Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management sharply reduced its Transcat position in Q1, cutting its stake by 96.9% and selling 185,639 shares. After the trim, it held 5,941 shares valued at about $436,000.
• Transcat reported better-than-expected earnings for the latest quarter, posting EPS of $0.56 versus the $0.51 consensus estimate. Revenue came in at $89.33 million, slightly below expectations.
• Wall Street sentiment remains mixed but constructive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $105.50. Several analysts recently moved their views up to “hold.”

Granahan Investment Management LLC trimmed its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 96.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,941 shares of the scientific and technical instruments company's stock after selling 185,639 shares during the period. Granahan Investment Management LLC owned approximately 0.06% of Transcat worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of Transcat by 112.6% in the 4th quarter. SG Americas Securities LLC now owns 27,732 shares of the scientific and technical instruments company's stock valued at $1,573,000 after purchasing an additional 14,688 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Transcat by 259.1% in the third quarter. JPMorgan Chase & Co. now owns 30,719 shares of the scientific and technical instruments company's stock valued at $2,249,000 after acquiring an additional 22,164 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Transcat during the fourth quarter worth approximately $1,974,000. Needham Investment Management LLC raised its position in Transcat by 33.0% in the 4th quarter. Needham Investment Management LLC now owns 124,370 shares of the scientific and technical instruments company's stock valued at $7,056,000 after purchasing an additional 30,870 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Transcat by 6,267.8% in the 1st quarter. Fifth Third Bancorp now owns 47,886 shares of the scientific and technical instruments company's stock valued at $3,517,000 after purchasing an additional 47,134 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Stock Performance

Shares of TRNS stock opened at $84.85 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $86.94 and a 200-day simple moving average of $77.85. The company has a market cap of $792.50 million, a price-to-earnings ratio of 146.30 and a beta of 0.69. Transcat, Inc. has a 12-month low of $50.23 and a 12-month high of $95.22.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. Transcat had a return on equity of 5.84% and a net margin of 1.62%.The firm had revenue of $89.33 million for the quarter, compared to the consensus estimate of $89.79 million. On average, equities analysts forecast that Transcat, Inc. will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Transcat from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Finally, Zacks Research upgraded shares of Transcat from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell 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 $105.50.

About Transcat

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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