Tessco Technologies Inc. (NASDAQ:TESS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
Shares of Tessco Technologies (NASDAQ:TESS) traded down 0.08% during trading on Thursday, reaching $12.32. 1,803 shares of the company traded hands. The company has a market capitalization of $102.37 million, a P/E ratio of 27.32 and a beta of 1.39. Tessco Technologies has a 52 week low of $12.05 and a 52 week high of $24.39. The company’s 50-day moving average price is $12.71 and its 200-day moving average price is $14.39.
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Tessco Technologies (NASDAQ:TESS) last released its earnings results on Thursday, July 21st. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.23. Tessco Technologies had a return on equity of 4.10% and a net margin of 0.71%. The firm had revenue of $128.90 million for the quarter, compared to the consensus estimate of $116.49 million. Equities research analysts forecast that Tessco Technologies will post $0.17 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in TESS. Granite Investment Partners LLC purchased a new stake in Tessco Technologies during the first quarter worth approximately $1,208,000. Acadian Asset Management LLC bought a new stake in shares of Tessco Technologies during the second quarter worth about $217,000. Deprince Race & Zollo Inc. raised its stake in shares of Tessco Technologies by 42.3% in the second quarter. Deprince Race & Zollo Inc. now owns 578,935 shares of the company’s stock worth $8,041,000 after buying an additional 172,168 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Tessco Technologies by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 44,011 shares of the company’s stock worth $612,000 after buying an additional 3,944 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Tessco Technologies during the second quarter worth about $1,046,000. Institutional investors own 60.58% of the company’s stock.
Tessco Technologies Company Profile
TESSCO Technologies Incorporated is a technology company. The Company architects and delivers product and value chain solutions to support wireless systems. It provides marketing and sales services, knowledge and supply chain management, product solution delivery and control systems. The Company offers its products in four categories: base station infrastructure, network systems, installation, test and maintenance, and mobile devices and accessories.
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