Summit Creek Advisors LLC Purchases New Shares in Transcat, Inc. $TRNS

Summit Creek Advisors LLC purchased a new position in shares of Transcat, Inc. (NASDAQ:TRNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,970 shares of the scientific and technical instruments company’s stock, valued at approximately $4,357,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new position in Transcat in the 2nd quarter valued at about $52,000. Lazard Asset Management LLC acquired a new position in shares of Transcat in the second quarter worth about $54,000. Tower Research Capital LLC TRC lifted its stake in shares of Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 798 shares in the last quarter. Marshall Wace LLP purchased a new position in Transcat in the fourth quarter valued at about $236,000. Finally, Balyasny Asset Management L.P. purchased a new position in Transcat in the fourth quarter valued at about $247,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TRNS. Weiss Ratings upgraded 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. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $105.50.

Transcat Price Performance

TRNS opened at $90.97 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $90.15 and its 200 day moving average price is $81.30. Transcat, Inc. has a fifty-two week low of $50.23 and a fifty-two week high of $100.00. The firm has a market cap of $851.48 million, a price-to-earnings ratio of 245.86 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last issued its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $92.95 million during the quarter, compared to the consensus estimate of $86.55 million. Transcat had a return on equity of 5.56% and a net margin of 0.99%. As a group, sell-side analysts expect that Transcat, Inc. will post 1.74 earnings per share for the current year.

Insider Activity at Transcat

In related news, Director Christopher P. Gillette sold 504 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director owned 200 shares of the company’s stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig D. Cairns acquired 1,050 shares of Transcat stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $93.97 per share, with a total value of $98,668.50. Following the transaction, the director directly owned 1,480 shares in the company, valued at approximately $139,075.60. This trade represents a 244.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.80% of the company’s stock.

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.