Osterweis Capital Management Inc. Takes $9.46 Million Position in Transcat, Inc. (NASDAQ:TRNS)

Osterweis Capital Management Inc. bought a new position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 89,465 shares of the scientific and technical instruments company's stock, valued at approximately $9,460,000. Osterweis Capital Management Inc. owned approximately 0.96% of Transcat at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Transcat by 8.1% during the third quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company's stock worth $25,027,000 after buying an additional 15,514 shares during the period. Geode Capital Management LLC raised its holdings in shares of Transcat by 5.4% in the third quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company's stock valued at $26,269,000 after purchasing an additional 11,106 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Transcat by 1.8% in the fourth quarter. Neuberger Berman Group LLC now owns 873,985 shares of the scientific and technical instruments company's stock worth $92,415,000 after purchasing an additional 15,723 shares in the last quarter. Annex Advisory Services LLC boosted its holdings in Transcat by 47.6% during the fourth quarter. Annex Advisory Services LLC now owns 24,461 shares of the scientific and technical instruments company's stock worth $2,587,000 after purchasing an additional 7,893 shares during the last quarter. Finally, Barclays PLC grew its position in Transcat by 393.0% in the third quarter. Barclays PLC now owns 15,130 shares of the scientific and technical instruments company's stock valued at $1,826,000 after purchasing an additional 12,061 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRNS has been the topic of several analyst reports. StockNews.com cut shares of Transcat from a "hold" rating to a "sell" rating in a research report on Wednesday, February 5th. HC Wainwright decreased their price target on Transcat from $126.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Northland Securities reiterated a "market perform" rating and set a $85.00 price objective (down previously from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. Finally, Oppenheimer lowered shares of Transcat from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $111.50.

Transcat Stock Performance

Transcat stock traded up $1.98 during midday trading on Tuesday, hitting $85.53. The company's stock had a trading volume of 21,875 shares, compared to its average volume of 73,503. 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 company has a market cap of $796.20 million, a price-to-earnings ratio of 45.54 and a beta of 0.67. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $147.12. The company has a 50-day moving average price of $77.09 and a two-hundred day moving average price of $95.23.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (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 in the prior year, the company earned $0.56 earnings per share. As a group, sell-side analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Insider Buying and Selling at Transcat

In related news, Director Craig D. Cairns acquired 1,200 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $77.02 per share, with a total value of $92,424.00. Following the completion of the purchase, the director now directly owns 1,910 shares in the company, valued at $147,108.20. This trade represents a 169.01 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company's stock.

Transcat Company 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.