Punch & Associates Investment Management Inc. Sells 36,000 Shares of Transcat, Inc. $TRNS

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Transcat, Inc. (NASDAQ:TRNS) by 38.5%, selling 36,000 shares and retaining 57,530 shares, valued at approximately $4.28 million.
• Transcat's most recent earnings report showed earnings per share (EPS) of $0.59, surpassing the consensus estimate of $0.40, with revenues of $76.42 million compared to an expected $72.28 million.
• Multiple analysts have issued ratings, with HC Wainwright setting a price target of $116.00 and the consensus price target for Transcat currently at $112.20, indicating a generally positive outlook from analysts.

Punch & Associates Investment Management Inc. cut its holdings in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 38.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,530 shares of the scientific and technical instruments company's stock after selling 36,000 shares during the period. Punch & Associates Investment Management Inc. owned about 0.62% of Transcat worth $4,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Conestoga Capital Advisors LLC raised its holdings in shares of Transcat by 5.8% in the first quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock valued at $71,268,000 after purchasing an additional 52,328 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Transcat by 5.5% in the first quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock valued at $68,635,000 after buying an additional 47,913 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Transcat by 17.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock valued at $45,218,000 after buying an additional 88,763 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Transcat by 7.6% in the first quarter. Champlain Investment Partners LLC now owns 598,026 shares of the scientific and technical instruments company's stock valued at $44,523,000 after buying an additional 42,376 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Transcat by 1.1% in the first quarter. Royce & Associates LP now owns 478,581 shares of the scientific and technical instruments company's stock valued at $35,630,000 after buying an additional 5,327 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Stock Performance

TRNS stock traded down $1.95 during midday trading on Friday, reaching $74.47. 25,310 shares of the company were exchanged, compared to its average volume of 107,064. 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 business has a 50-day moving average price of $82.19 and a two-hundred day moving average price of $80.66. Transcat, Inc. has a one year low of $67.56 and a one year high of $133.72. The firm has a market capitalization of $693.94 million, a price-to-earnings ratio of 52.08 and a beta of 0.72.

Transcat (NASDAQ:TRNS - Get Free Report) last released 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. Transcat had a net margin of 4.64% and a return on equity of 6.66%. The firm had revenue of $76.42 million during the quarter, compared to analysts' expectations of $72.28 million. Equities research analysts forecast that Transcat, Inc. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TRNS shares. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. Lake Street Capital started coverage on shares of Transcat in a research note on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $116.00 target price on shares of Transcat in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.20.

Transcat Company 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.