Shares of TESSCO Technologies Incorporated (NASDAQ:TESS) have been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also given TESSCO Technologies an industry rank of 74 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of TESSCO Technologies from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Friday, October 27th.

A number of institutional investors have recently made changes to their positions in TESS. Dimensional Fund Advisors LP raised its holdings in TESSCO Technologies by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 452,817 shares of the communications equipment provider’s stock valued at $7,109,000 after acquiring an additional 5,128 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in TESSCO Technologies by 103.7% during the first quarter. Goldman Sachs Group Inc. now owns 21,191 shares of the communications equipment provider’s stock worth $333,000 after purchasing an additional 10,789 shares during the period. Russell Investments Group Ltd. raised its stake in 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 purchasing an additional 1,031 shares during the period. Algert Global LLC increased its stake in TESSCO Technologies by 30.4% during the 2nd quarter. Algert Global LLC now owns 20,660 shares of the communications equipment provider’s stock worth $275,000 after buying an additional 4,813 shares during the period. Finally, Deprince Race & Zollo Inc. grew its holdings in TESSCO Technologies by 22.3% during the 2nd 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. 58.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of TESSCO Technologies (NASDAQ TESS) opened at $17.00 on Friday. TESSCO Technologies has a 12-month low of $11.40 and a 12-month high of $18.00. The stock has a market capitalization of $147.46, a price-to-earnings ratio of 45.13 and a beta of 1.29.

TESSCO Technologies (NASDAQ:TESS) last announced its earnings results on Monday, October 23rd. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.11. The business had revenue of $145.08 million during the quarter, compared to analyst estimates of $141.97 million. TESSCO Technologies had a net margin of 0.51% and a return on equity of 3.09%. analysts expect that TESSCO Technologies will post 0.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.80 annualized dividend and a dividend yield of 4.71%. TESSCO Technologies’s dividend payout ratio is presently 235.29%.

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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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