TESSCO Technologies Incorporated (NASDAQ:TESS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
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 2.09% during trading on Friday, hitting $14.05. 13,376 shares of the company were exchanged. The firm’s 50 day moving average price is $14.10 and its 200-day moving average price is $12.77. The stock has a market capitalization of $117.02 million, a PE ratio of 369.74 and a beta of 1.47. TESSCO Technologies has a 1-year low of $9.75 and a 1-year high of $18.64.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, February 13th. TESSCO Technologies’s payout ratio is 2,000.00%.
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Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in TESSCO Technologies by 5.2% in the fourth quarter. Renaissance Technologies LLC now owns 378,500 shares of the company’s stock valued at $4,921,000 after buying an additional 18,600 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in TESSCO Technologies during the fourth quarter valued at approximately $350,000. RBF Capital LLC raised its stake in TESSCO Technologies by 7.5% in the third quarter. RBF Capital LLC now owns 11,523 shares of the company’s stock valued at $143,000 after buying an additional 800 shares during the last quarter. Crawford Investment Counsel Inc. raised its stake in TESSCO Technologies by 5.5% in the third quarter. Crawford Investment Counsel Inc. now owns 65,184 shares of the company’s stock valued at $809,000 after buying an additional 3,400 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new stake in TESSCO Technologies during the third quarter valued at approximately $155,000. 60.90% of the stock is owned by institutional investors and hedge funds.
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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