TESSCO Technologies, Inc. (NASDAQ:TESS) has received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Zacks has also given TESSCO Technologies an industry rank of 71 out of 255 based on the ratings given to its competitors.
A number of research analysts have issued reports on the stock. TheStreet lowered shares of TESSCO Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, July 23rd. ValuEngine lowered shares of TESSCO Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Zacks Investment Research raised shares of TESSCO Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 25th.
In other news, SVP Charles Kriete sold 3,747 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $15.85, for a total value of $59,389.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in TESSCO Technologies during the second quarter valued at approximately $32,000. Brown Advisory Inc. lifted its stake in TESSCO Technologies by 2.6% during the second quarter. Brown Advisory Inc. now owns 74,419 shares of the communications equipment provider’s stock valued at $1,329,000 after purchasing an additional 1,875 shares during the last quarter. Tieton Capital Management LLC lifted its stake in TESSCO Technologies by 1.1% during the second quarter. Tieton Capital Management LLC now owns 334,039 shares of the communications equipment provider’s stock valued at $5,966,000 after purchasing an additional 3,610 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in TESSCO Technologies during the third quarter valued at approximately $55,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in TESSCO Technologies during the second quarter valued at approximately $72,000. 61.91% of the stock is owned by institutional investors and hedge funds.
TESSCO Technologies stock traded up $0.28 during midday trading on Wednesday, reaching $15.75. 15,380 shares of the stock traded hands, compared to its average volume of 47,571. The company has a current ratio of 1.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $14.85 and a two-hundred day moving average price of $16.68. The firm has a market cap of $131.99 million, a price-to-earnings ratio of 24.23 and a beta of 1.22. TESSCO Technologies has a fifty-two week low of $10.20 and a fifty-two week high of $20.00.
About TESSCO Technologies
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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