ACK Asset Management LLC Purchases New Holdings in Transcat, Inc. (NASDAQ:TRNS)

ACK Asset Management LLC purchased a new position in Transcat, Inc. (NASDAQ:TRNS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,000 shares of the scientific and technical instruments company's stock, valued at approximately $4,758,000. Transcat accounts for 0.6% of ACK Asset Management LLC's investment portfolio, making the stock its 22nd biggest position. ACK Asset Management LLC owned approximately 0.48% of Transcat as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNS. Jones Financial Companies Lllp boosted its holdings in Transcat by 686.7% in the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 309 shares during the period. Morgan Dempsey Capital Management LLC purchased a new position in shares of Transcat in the fourth quarter valued at about $143,000. Captrust Financial Advisors bought a new position in shares of Transcat in the third quarter worth about $201,000. SG Americas Securities LLC purchased a new stake in shares of Transcat during the fourth quarter worth about $182,000. Finally, Walleye Capital LLC purchased a new stake in shares of Transcat during the third quarter worth about $216,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Price Performance

Shares of NASDAQ TRNS traded up $4.57 during midday trading on Friday, reaching $81.81. 75,570 shares of the stock traded hands, compared to its average volume of 71,993. The company's 50 day moving average is $76.45 and its 200 day moving average is $96.85. Transcat, Inc. has a one year low of $67.56 and a one year high of $147.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. The stock has a market capitalization of $761.57 million, a PE ratio of 44.22 and a beta of 0.67.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same quarter last year, the company earned $0.56 earnings per share. On average, equities research analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TRNS shares. HC Wainwright lowered their price target on Transcat from $126.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Oppenheimer downgraded shares of Transcat from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. StockNews.com cut shares of Transcat from a "hold" rating to a "sell" rating in a research note on Wednesday, February 5th. Finally, Northland Securities reiterated a "market perform" rating and issued a $85.00 price target (down from $110.00) on shares of Transcat in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Transcat has an average rating of "Hold" and a consensus price target of $111.50.

Insider Activity at Transcat

In related news, Director Craig D. Cairns bought 1,200 shares of the business's stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $77.02 per share, with a total value of $92,424.00. Following the transaction, the director now owns 1,910 shares in the company, valued at $147,108.20. This trade represents a 169.01 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by insiders.

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.