Zacks: TESSCO Technologies, Inc. (TESS) Receives Consensus Rating of “Hold” from Brokerages

Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Zacks has also given TESSCO Technologies an industry rank of 211 out of 265 based on the ratings given to related companies.

Several equities research analysts recently weighed in on TESS shares. TheStreet raised TESSCO Technologies from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Zacks Investment Research raised TESSCO Technologies from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Saturday, January 27th.

In related news, Director Morton Zifferer sold 3,235 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $22.60, for a total value of $73,111.00. Following the sale, the director now directly owns 77,839 shares of the company’s stock, valued at $1,759,161.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. grew its stake in shares of TESSCO Technologies by 7.2% in the third quarter. Deprince Race & Zollo Inc. now owns 792,932 shares of the communications equipment provider’s stock worth $9,872,000 after acquiring an additional 53,216 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of TESSCO Technologies by 3.9% in the third quarter. Dimensional Fund Advisors LP now owns 496,166 shares of the communications equipment provider’s stock worth $6,177,000 after acquiring an additional 18,502 shares during the last quarter. Tieton Capital Management LLC grew its stake in shares of TESSCO Technologies by 15.5% in the third quarter. Tieton Capital Management LLC now owns 318,499 shares of the communications equipment provider’s stock worth $3,965,000 after acquiring an additional 42,644 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TESSCO Technologies by 62.6% in the second quarter. Vanguard Group Inc. now owns 314,667 shares of the communications equipment provider’s stock worth $4,185,000 after acquiring an additional 121,192 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of TESSCO Technologies by 9.0% in the third quarter. Moors & Cabot Inc. now owns 80,678 shares of the communications equipment provider’s stock worth $1,001,000 after acquiring an additional 6,646 shares during the last quarter. 58.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TESSCO Technologies (NASDAQ:TESS) traded down $0.75 during mid-day trading on Friday, reaching $21.55. The company had a trading volume of 7,948 shares, compared to its average volume of 42,995. The stock has a market capitalization of $180.55, a PE ratio of 56.71 and a beta of 1.37. TESSCO Technologies has a 12 month low of $12.15 and a 12 month high of $23.65.

TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Tuesday, January 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. The company had revenue of $146.26 million for the quarter, compared to analysts’ expectations of $144.00 million. TESSCO Technologies had a return on equity of 3.43% and a net margin of 0.57%.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.80 annualized dividend and a yield of 3.71%. TESSCO Technologies’s payout ratio is 210.53%.

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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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