Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also given TESSCO Technologies an industry rank of 161 out of 255 based on the ratings given to related companies.
A number of equities analysts have recently weighed in on the company. TheStreet lowered TESSCO Technologies from a “b-” rating to a “c” rating in a research report on Tuesday, July 23rd. Zacks Investment Research cut TESSCO Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, ValuEngine cut TESSCO Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 1st.
In related news, SVP Charles Kriete sold 3,747 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $15.85, for a total transaction of $59,389.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 24.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Management Corp VA bought a new position in TESSCO Technologies during the 2nd quarter worth approximately $9,333,000. BlackRock Inc. grew its position in TESSCO Technologies by 192.0% during the 2nd quarter. BlackRock Inc. now owns 577,786 shares of the communications equipment provider’s stock worth $10,320,000 after acquiring an additional 379,936 shares during the last quarter. Susquehanna International Group LLP bought a new position in TESSCO Technologies during the 2nd quarter worth approximately $789,000. Municipal Employees Retirement System of Michigan bought a new position in TESSCO Technologies during the 2nd quarter worth approximately $718,000. Finally, Vanguard Group Inc. grew its position in TESSCO Technologies by 12.1% during the 2nd quarter. Vanguard Group Inc. now owns 277,262 shares of the communications equipment provider’s stock worth $4,952,000 after acquiring an additional 29,959 shares during the last quarter. 62.53% of the stock is currently owned by institutional investors.
Shares of TESS opened at $12.30 on Thursday. TESSCO Technologies has a 52-week low of $10.20 and a 52-week high of $20.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.73 and a current ratio of 1.56. The business’s 50 day moving average price is $14.51 and its two-hundred day moving average price is $16.37. The firm has a market cap of $111.97 million, a PE ratio of 18.92 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.50%. TESSCO Technologies’s dividend payout ratio is 123.08%.
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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