Zacks Investment Research upgraded shares of TESSCO Technologies Incorporated (NASDAQ:TESS) from a hold rating to a strong-buy rating in a report published on Friday. They currently have $19.00 target price on the communications equipment provider’s stock.
According to Zacks, “TESSCO Technologies Inc. is a leading provider of the services, products and solutions required to build, operate, maintain and use wireless voice, data, messaging, location tracking and Internet systems. The company provides marketing and sales services, knowledge and supply chain management, product-solution delivery and control systems utilizing Internet and information technology. The company’s guiding vision is to be The Vital Link between buyers and manufacturers. For its customers, the company provides a total source of product knowledge and solutions. “
TESSCO Technologies (NASDAQ TESS) traded down 6.45% during midday trading on Friday, reaching $15.95. The company’s stock had a trading volume of 31,358 shares. The stock’s 50-day moving average price is $13.29 and its 200-day moving average price is $13.67. The firm has a market capitalization of $133.50 million, a price-to-earnings ratio of 66.46 and a beta of 1.20. TESSCO Technologies has a 12 month low of $9.75 and a 12 month high of $18.00.
TESSCO Technologies (NASDAQ:TESS) last announced its quarterly earnings data on Monday, October 23rd. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.11. TESSCO Technologies had a return on equity of 3.09% and a net margin of 0.51%. The business had revenue of $145.08 million during the quarter, compared to analyst estimates of $141.97 million. Analysts predict that TESSCO Technologies will post $0.78 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.80 annualized dividend and a dividend yield of 5.02%. TESSCO Technologies’s dividend payout ratio is 235.29%.
Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of TESSCO Technologies by 11.0% during the first quarter. Wells Fargo & Company MN now owns 47,587 shares of the communications equipment provider’s stock worth $747,000 after acquiring an additional 4,700 shares in the last quarter. Algert Global LLC raised its holdings in shares of TESSCO Technologies by 30.4% during the second quarter. Algert Global LLC now owns 20,660 shares of the communications equipment provider’s stock worth $275,000 after acquiring an additional 4,813 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of TESSCO Technologies by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 26,517 shares of the communications equipment provider’s stock worth $353,000 after acquiring an additional 1,031 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of TESSCO Technologies by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 452,817 shares of the communications equipment provider’s stock worth $7,109,000 after acquiring an additional 5,128 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in shares of TESSCO Technologies by 22.3% during the second quarter. Deprince Race & Zollo Inc. now owns 739,716 shares of the communications equipment provider’s stock worth $9,838,000 after acquiring an additional 135,108 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
TESSCO Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.
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