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

Granahan Investment Management LLC decreased its position in Transcat, Inc. (NASDAQ:TRNS) by 96.9% during the 1st quarter, Holdings Channel reports. The firm owned 5,941 shares of the scientific and technical instruments company’s stock after selling 185,639 shares during the quarter. Granahan Investment Management LLC’s holdings in Transcat were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after buying an additional 325 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Transcat during the first quarter valued at approximately $1,674,000. JPMorgan Chase & Co. boosted its position in Transcat by 88.3% during the second quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock worth $735,000 after acquiring an additional 4,012 shares during the last quarter. Legal & General Group Plc grew its position in shares of Transcat by 6.1% in the second quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock valued at $821,000 after purchasing an additional 548 shares during the period. Finally, Rhumbline Advisers increased its stake in Transcat by 23.3% in the second quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock valued at $1,390,000 after purchasing an additional 3,061 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings upgraded Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Finally, Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.50.

Transcat Price Performance

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

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. Transcat had a net margin of 1.62% and a return on equity of 5.84%. The firm had revenue of $89.33 million for the quarter, compared to the consensus estimate of $89.79 million. Equities research analysts anticipate that Transcat, Inc. will post 1.71 earnings per share for the current fiscal year.

Transcat Profile

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.