Transcat, Inc. $TRNS Stock Bought by Riverbridge Partners LLC

Riverbridge Partners LLC increased its holdings in Transcat, Inc. (NASDAQ:TRNS) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,452 shares of the scientific and technical instruments company’s stock after buying an additional 17,063 shares during the period. Riverbridge Partners LLC’s holdings in Transcat were worth $19,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Transcat in the second quarter valued at approximately $32,000. Persistent Asset Partners Ltd acquired a new stake in Transcat during the second quarter worth approximately $52,000. GAMMA Investing LLC increased its stake in Transcat by 133.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock worth $91,000 after acquiring an additional 589 shares during the period. Canada Pension Plan Investment Board bought a new position in Transcat during the 2nd quarter worth $204,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Transcat during the 3rd quarter worth $221,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Stock Performance

Shares of Transcat stock opened at $106.61 on Wednesday. The company has a 50 day moving average of $87.82 and a 200-day moving average of $82.87. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $112.44. The company has a current ratio of 2.57, a quick ratio of 2.19 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.00 billion, a PE ratio of 222.11 and a beta of 0.61.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Tuesday, November 3rd. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.19. The business had revenue of $97.09 million for the quarter, compared to analyst estimates of $92.46 million. Transcat had a net margin of 1.26% and a return on equity of 6.14%. As a group, equities research analysts forecast that Transcat, Inc. will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Transcat news, CEO Jaime A. Irick bought 2,275 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was purchased at an average cost of $101.26 per share, for a total transaction of $230,366.50. Following the completion of the purchase, the chief executive officer directly owned 2,275 shares of the company’s stock, valued at approximately $230,366.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TRNS has been the subject of several analyst reports. Northland Securities raised Transcat from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a report on Wednesday, October 21st. Oppenheimer raised Transcat from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Wednesday, November 4th. CJS Securities started coverage on Transcat in a research report on Tuesday, October 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Zacks Research raised Transcat from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.33.

Transcat Company Profile

Transcat, Inc. provides calibration and related services, including instrument repair, inspection and compliance support. Its services help customers maintain the accuracy and reliability of equipment used in regulated and quality-sensitive operations. The company also distributes professional-grade test, measurement and control instruments from a range of manufacturers. Its offerings include equipment used to measure and monitor variables such as pressure, temperature, electrical signals and humidity.