TESSCO Technologies (NASDAQ:TESS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, ValuEngine reports.
A number of other research analysts also recently commented on TESS. Zacks Investment Research downgraded TESSCO Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 28th. TheStreet raised TESSCO Technologies from a “c+” rating to a “b” rating in a report on Friday, February 1st.
Shares of TESS opened at $19.08 on Tuesday. The stock has a market capitalization of $164.60 million, a P/E ratio of 34.69 and a beta of 1.40. TESSCO Technologies has a one year low of $10.20 and a one year high of $20.00.
TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.10). The business had revenue of $144.96 million during the quarter, compared to analysts’ expectations of $147.88 million. TESSCO Technologies had a net margin of 0.93% and a return on equity of 5.24%. As a group, equities analysts forecast that TESSCO Technologies will post 0.76 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of TESS. Oppenheimer Asset Management Inc. purchased a new position in TESSCO Technologies in the fourth quarter valued at about $68,000. Bailard Inc. purchased a new position in TESSCO Technologies in the first quarter valued at about $170,000. Janney Montgomery Scott LLC purchased a new position in TESSCO Technologies in the first quarter valued at about $244,000. Stifel Financial Corp boosted its holdings in TESSCO Technologies by 13.6% in the fourth quarter. Stifel Financial Corp now owns 45,939 shares of the communications equipment provider’s stock valued at $556,000 after purchasing an additional 5,485 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in TESSCO Technologies by 32.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 82,740 shares of the communications equipment provider’s stock valued at $993,000 after purchasing an additional 20,161 shares during the last quarter. 59.64% of the stock is owned by hedge funds and other institutional investors.
TESSCO Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.
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