Tessco Technologies Inc. (TESS) Stock Rating Upgraded by Zacks Investment Research
Tessco Technologies Inc. (NASDAQ:TESS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “TESSCO Technologies Inc. is a leading provider of the services, products and solutions required to build, operate, maintain and use wireless voice, data, messaging, location tracking and Internet systems. The company provides marketing and sales services, knowledge and supply chain management, product-solution delivery and control systems utilizing Internet and information technology. The company’s guiding vision is to be The Vital Link between buyers and manufacturers. For its customers, the company provides a total source of product knowledge and solutions. “
Tessco Technologies (NASDAQ:TESS) opened at 12.33 on Thursday. Tessco Technologies has a 52-week low of $12.05 and a 52-week high of $24.39. The firm has a 50-day moving average price of $12.74 and a 200-day moving average price of $14.40. The company has a market cap of $102.45 million, a PE ratio of 27.34 and a beta of 1.39.
Tessco Technologies (NASDAQ:TESS) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.23. Tessco Technologies had a return on equity of 4.10% and a net margin of 0.71%. The business earned $128.90 million during the quarter, compared to analysts’ expectations of $116.49 million. On average, analysts forecast that Tessco Technologies will post $0.17 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Deprince Race & Zollo Inc. boosted its position in shares of Tessco Technologies by 42.3% in the second quarter. Deprince Race & Zollo Inc. now owns 578,935 shares of the company’s stock worth $8,041,000 after buying an additional 172,168 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Tessco Technologies during the second quarter worth approximately $1,046,000. Granite Investment Partners LLC purchased a new position in shares of Tessco Technologies during the first quarter worth approximately $1,208,000. Eagle Global Advisors LLC boosted its position in shares of Tessco Technologies by 132.3% in the second quarter. Eagle Global Advisors LLC now owns 33,155 shares of the company’s stock worth $461,000 after buying an additional 18,881 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Tessco Technologies during the second quarter worth approximately $217,000. 60.58% of the stock is currently owned by hedge funds and other institutional investors.
About Tessco Technologies
TESSCO Technologies Incorporated is a technology company. The Company architects and delivers product and value chain solutions to support wireless systems. It provides marketing and sales services, knowledge and supply chain management, product solution delivery and control systems. The Company offers its products in four categories: base station infrastructure, network systems, installation, test and maintenance, and mobile devices and accessories.
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