Neuberger Berman Investment Advis recently announced the acquisition of new stake in Transcat Inc. (NASDAQ:TRNS). The institutional investor has increased its shareholding in the Industrials company by 1.91% to 0.84 million shares with purchase of 15756.0 shares. This fresh investment now brings its stake to 11.10% valued currently at $59.45 million. In addition, Conestoga Capital Advisors LLC raised its holdings by 36668.0 to 0.76 million shares. And Weatherbie Capital LLC has lifted its position by 43.27% or 0.19 million shares – to 0.63 million shares.
With over 82289.0 Transcat Inc. (TRNS) shares trading Tuesday and a closing price of $78.63 on the day, the dollar volume was approximately $6.47 million. The shares have shown a positive half year performance of 29.52% and its price on 01/24/23 lost nearly -5.02%. Currently, there are 7.55M common shares owned by the public and among those 7.16M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for TRNS have a consensus price objective of $84.60. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $80.00. The average price target is 7.68% above its recent price level and an upside to the estimated low will see the stock gain 1.71% over that period. But an upside of 12.63% will see the stock hit the forecast high price target while median target price for the stock is $84.00.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 28,928 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 39,714 shares.
The top 3 mutual fund holders in Transcat Inc. are Neuberger Berman Genesis Fund, Conestoga Small Cap Fund, and Alger Funds – Weatherbie Speciali. Neuberger Berman Genesis Fund owns 0.49 million shares of the company’s stock, all valued at over $34.46 million. The company bought an additional 984.0 shares recently to bring their total holdings to about 6.43% of the shares outstanding. Alger Funds – Weatherbie Speciali bought 8891.0 shares to bring its total holdings to over 0.27 million shares at a value of $19.11 million. Alger Funds – Weatherbie Speciali now owns shares totaling to 3.57% of the shares outstanding.
Shares of Transcat Inc. (NASDAQ: TRNS) opened at $81.28, down -$1.51 from a prior closing price of $82.79. However, the script later moved the day high at 82.20, down -5.02%. The company’s stock has a 5-day price change of -3.01% and -0.03% over the past three months. TRNS shares are trading 10.95% year to date (YTD), with the 12-month market performance down to -12.14% lower. It has a 12-month low price of $50.32 and touched a high of $95.79 over the same period. TRNS has an average intraday trading volume of 41.03K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.40%, 1.98%, and 9.39% respectively.
Institutional ownership of Transcat Inc. (NASDAQ: TRNS) shares accounts for 91.80% of the company’s 7.55M shares outstanding. Mutual fund holders own 36.84%, while other institutional holders and individual stakeholders account for 49.41% and 13.36% respectively.
It has a market capitalization of $585.01M and a beta (3y monthly) value of 0.77. The stock’s trailing 12-month PE ratio is 59.25, while the earnings-per-share (ttm) stands at $1.33. The company has a PEG of 2.37 and a Quick Ratio of 1.80 with the debt-to-equity ratio at 0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.35% over the week and 3.79% over the month.
Analysts forecast that Transcat Inc. (TRNS) will achieve an EPS of $0.39 for the current quarter, $0.29 for the next quarter and $1.98 for 2024. The lowest estimate earnings-per-share for the quarter is $0.34 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 45.30%, and 30.83% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to 18.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Transcat Inc. (TRNS) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TRNS, a number of firms have released research notes about the stock. Northland Capital stated their Outperform rating for the stock in a research note on September 15, 2022, with the firm’s price target at $100. Sidoti coverage for the Transcat Inc. (TRNS) stock in a research note released on May 19, 2021 offered a Buy rating with a price target of $60. Sidoti was of a view on March 29, 2021 that the stock is Neutral, while H.C. Wainwright gave the stock Buy rating on January 19, 2021, issuing a price target of $42. B. Riley FBR on their part issued Buy rating on September 17, 2020.
