Transcat, Inc. $TRNS Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC cut its holdings in Transcat, Inc. (NASDAQ:TRNS) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,220 shares of the scientific and technical instruments company’s stock after selling 44,806 shares during the quarter. Champlain Investment Partners LLC owned approximately 0.06% of Transcat worth $47,555,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC lifted its stake in Transcat by 13.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock valued at $93,565,000 after buying an additional 131,217 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Transcat by 5.5% in the first quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company’s stock worth $68,635,000 after acquiring an additional 47,913 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Transcat by 17.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company’s stock valued at $45,218,000 after acquiring an additional 88,763 shares in the last quarter. Riverbridge Partners LLC lifted its position in shares of Transcat by 94.3% in the second quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company’s stock valued at $37,887,000 after acquiring an additional 213,927 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Transcat by 35.8% during the second quarter. Bessemer Group Inc. now owns 244,491 shares of the scientific and technical instruments company’s stock valued at $21,016,000 after acquiring an additional 64,422 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRNS has been the subject of several analyst reports. Northland Capmk raised shares of Transcat from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Zacks Research raised shares of Transcat from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Northland Securities set a $95.00 target price on shares of Transcat in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research note on Monday, November 17th. Finally, HC Wainwright reissued a “buy” rating and set a $116.00 price target on shares of Transcat in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.25.

Transcat Price Performance

TRNS opened at $53.53 on Tuesday. Transcat, Inc. has a 1 year low of $52.06 and a 1 year high of $112.22. The company’s 50 day simple moving average is $67.67 and its 200 day simple moving average is $77.37. The stock has a market capitalization of $499.33 million, a PE ratio of 37.43 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.92.

Transcat (NASDAQ:TRNS) last posted its quarterly 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). The company had revenue of $82.27 million for the quarter, compared to analysts’ expectations of $79.51 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. As a group, sell-side analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Transcat Profile

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.