Broadcrest Asset Management LLC Has $9.58 Million Stock Position in Transcat, Inc. $TRNS

Broadcrest Asset Management LLC trimmed its stake in Transcat, Inc. (NASDAQ:TRNS) by 34.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,802 shares of the scientific and technical instruments company’s stock after selling 69,198 shares during the period. Transcat accounts for about 21.7% of Broadcrest Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Broadcrest Asset Management LLC’s holdings in Transcat were worth $9,575,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Transcat during the third quarter worth approximately $40,000. Lazard Asset Management LLC bought a new stake in shares of Transcat during the 2nd quarter worth $54,000. Parkside Financial Bank & Trust acquired a new position in Transcat in the 2nd quarter valued at $79,000. PNC Financial Services Group Inc. grew its stake in Transcat by 1,118.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $92,000 after buying an additional 984 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Transcat by 245.5% in the 2nd 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 during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Stock Down 0.5%

Shares of TRNS opened at $58.50 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.06 and a current ratio of 2.43. The company has a 50-day simple moving average of $58.78 and a 200-day simple moving average of $69.08. Transcat, Inc. has a 52 week low of $50.23 and a 52 week high of $97.08. The firm has a market capitalization of $545.81 million, a P/E ratio of 47.95 and a beta of 0.78.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, November 3rd. The scientific and technical instruments company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Transcat had a return on equity of 6.81% and a net margin of 3.75%.The firm had revenue of $82.27 million for the quarter, compared to analyst estimates of $79.51 million. On average, equities research analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TRNS shares. Northland Securities set a $95.00 price target on shares of Transcat in a report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Finally, Zacks Research upgraded Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $105.33.

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.