Zacks: TESSCO Technologies, Inc. (NASDAQ:TESS) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Zacks has also given TESSCO Technologies an industry rank of 108 out of 256 based on the ratings given to related companies.

TESS has been the topic of a number of recent research reports. ValuEngine raised TESSCO Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research lowered TESSCO Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 28th.

Shares of TESS stock traded down $0.71 during mid-day trading on Wednesday, reaching $17.50. 970 shares of the stock traded hands, compared to its average volume of 29,581. TESSCO Technologies has a 1-year low of $10.20 and a 1-year high of $20.00. The firm has a market capitalization of $154.06 million, a price-to-earnings ratio of 26.92 and a beta of 1.35.

TESSCO Technologies (NASDAQ:TESS) last announced its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.10). TESSCO Technologies had a net margin of 0.91% and a return on equity of 5.11%. The firm had revenue of $144.96 million for the quarter, compared to analyst estimates of $147.88 million. As a group, analysts forecast that TESSCO Technologies will post 0.67 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Tuesday, May 21st. TESSCO Technologies’s dividend payout ratio is currently 123.08%.

Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in TESSCO Technologies in the fourth quarter worth approximately $68,000. Bailard Inc. bought a new stake in shares of TESSCO Technologies during the first quarter valued at approximately $170,000. Morgan Stanley increased its holdings in shares of TESSCO Technologies by 29.3% during the first quarter. Morgan Stanley now owns 12,296 shares of the communications equipment provider’s stock valued at $190,000 after acquiring an additional 2,790 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of TESSCO Technologies during the first quarter valued at approximately $244,000. Finally, Stifel Financial Corp increased its holdings in shares of TESSCO Technologies by 13.6% during the fourth quarter. Stifel Financial Corp now owns 45,939 shares of the communications equipment provider’s stock valued at $556,000 after acquiring an additional 5,485 shares in the last quarter. Institutional investors and hedge funds own 59.04% of the company’s stock.

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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