Champlain Investment Partners LLC Has $49.46 Million Position in Transcat, Inc. (NASDAQ:TRNS)

Champlain Investment Partners LLC raised its holdings in Transcat, Inc. (NASDAQ:TRNS) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 409,500 shares of the scientific and technical instruments company’s stock after buying an additional 74,169 shares during the period. Champlain Investment Partners LLC’s holdings in Transcat were worth $49,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRNS. Charles Schwab Investment Management Inc. grew its position in shares of Transcat by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 74,832 shares of the scientific and technical instruments company’s stock valued at $9,037,000 after acquiring an additional 2,008 shares during the period. Intech Investment Management LLC bought a new position in shares of Transcat in the 3rd quarter valued at about $235,000. Moran Wealth Management LLC grew its position in shares of Transcat by 50.3% in the 3rd quarter. Moran Wealth Management LLC now owns 3,793 shares of the scientific and technical instruments company’s stock valued at $458,000 after acquiring an additional 1,269 shares during the period. Royce & Associates LP grew its position in shares of Transcat by 8.2% in the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after acquiring an additional 38,774 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Transcat by 8.8% during the 3rd quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock worth $557,000 after buying an additional 373 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TRNS shares. Northland Securities dropped their price objective on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. Oppenheimer reiterated an “outperform” rating and issued a $130.00 price objective (down previously from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Finally, Craig Hallum dropped their price objective on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $127.25.

Transcat Stock Performance

NASDAQ:TRNS opened at $109.02 on Friday. The firm’s fifty day moving average is $116.61 and its 200-day moving average is $121.50. Transcat, Inc. has a 52 week low of $94.29 and a 52 week high of $147.12. The firm has a market cap of $1.00 billion, a P/E ratio of 55.06 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period in the prior year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Transcat, Inc. will post 1.76 earnings per share for the current year.

About Transcat

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.