Conestoga Capital Advisors LLC Reduces Holdings in Transcat, Inc. $TRNS

Conestoga Capital Advisors LLC cut its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 45.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 512,518 shares of the scientific and technical instruments company’s stock after selling 430,919 shares during the quarter. Conestoga Capital Advisors LLC owned approximately 5.49% of Transcat worth $37,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Transcat in the second quarter worth $54,000. Tower Research Capital LLC TRC raised its stake in shares of Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 798 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Transcat by 42.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock worth $112,000 after purchasing an additional 458 shares in the last quarter. Marshall Wace LLP purchased a new stake in Transcat during the 4th quarter worth about $236,000. Finally, Balyasny Asset Management L.P. bought a new position in Transcat in the 4th quarter worth about $247,000. Institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRNS. Wall Street Zen upgraded Transcat from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Transcat Price Performance

Shares of NASDAQ TRNS opened at $92.71 on Thursday. The stock’s 50-day simple moving average is $83.05 and its two-hundred day simple moving average is $74.38. Transcat, Inc. has a twelve month low of $50.23 and a twelve month high of $94.76. The firm has a market capitalization of $866.00 million, a P/E ratio of 159.85 and a beta of 0.71. The company has a quick ratio of 1.99, a current ratio of 2.33 and a debt-to-equity ratio of 0.33.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $89.79 million. As a group, equities analysts anticipate that Transcat, Inc. will post 1.71 EPS for the current fiscal year.

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.