TESSCO Technologies (TESS) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of TESSCO Technologies (NASDAQ:TESS) from a hold rating to a buy rating in a report published on Tuesday, ValuEngine reports.

Several other research analysts have also issued reports on TESS. Zacks Investment Research lowered TESSCO Technologies from a strong-buy rating to a hold rating in a research report on Thursday, March 28th. TheStreet raised TESSCO Technologies from a c+ rating to a b rating in a research report on Friday, February 1st.

TESS opened at $18.47 on Tuesday. TESSCO Technologies has a one year low of $10.20 and a one year high of $20.00. The company has a market cap of $164.60 million, a price-to-earnings ratio of 33.58 and a beta of 1.40.

TESSCO Technologies (NASDAQ:TESS) last announced its earnings results on Monday, May 6th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.10). TESSCO Technologies had a return on equity of 5.24% and a net margin of 0.93%. The firm had revenue of $144.96 million during the quarter, compared to the consensus estimate of $147.88 million. On average, equities research analysts forecast that TESSCO Technologies will post 0.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Tuesday, May 21st. TESSCO Technologies’s dividend payout ratio is currently 145.45%.

Several large investors have recently made changes to their positions in the company. Deprince Race & Zollo Inc. raised its position in shares of TESSCO Technologies by 1.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 880,552 shares of the communications equipment provider’s stock worth $10,567,000 after acquiring an additional 16,026 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TESSCO Technologies by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 615,648 shares of the communications equipment provider’s stock worth $7,388,000 after acquiring an additional 2,576 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of TESSCO Technologies by 1.5% in the 3rd quarter. Renaissance Technologies LLC now owns 452,400 shares of the communications equipment provider’s stock worth $6,899,000 after acquiring an additional 6,900 shares in the last quarter. 22NW LP raised its position in shares of TESSCO Technologies by 14.1% in the 4th quarter. 22NW LP now owns 314,639 shares of the communications equipment provider’s stock worth $3,776,000 after acquiring an additional 38,770 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in shares of TESSCO Technologies by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 233,002 shares of the communications equipment provider’s stock worth $3,553,000 after buying an additional 4,600 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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