Conestoga Capital Advisors LLC Sells 430,919 Shares of Transcat, Inc. $TRNS

Conestoga Capital Advisors LLC cut its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 45.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 512,518 shares of the scientific and technical instruments company’s stock after selling 430,919 shares during the period. Conestoga Capital Advisors LLC owned 0.05% of Transcat worth $37,644,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TRNS. Wellington Management Group LLP lifted its position in Transcat by 677.7% in the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after buying an additional 216,579 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Transcat during the fourth quarter valued at approximately $7,259,000. King Luther Capital Management Corp grew its position in Transcat by 182.3% during the fourth quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock valued at $5,886,000 after acquiring an additional 67,000 shares during the last quarter. Royce & Associates LP raised its stake in shares of Transcat by 15.3% during the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after acquiring an additional 51,774 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Transcat by 109.7% in the 4th quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock worth $5,401,000 after acquiring an additional 49,800 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Down 0.1%

NASDAQ:TRNS opened at $92.71 on Thursday. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $94.76. The firm’s 50-day moving average price is $83.05 and its 200-day moving average price is $74.38. The company has a market capitalization of $866.00 million, a PE ratio of 159.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Research raised Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Weiss Ratings upgraded Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate 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.