TESSCO Technologies (NASDAQ:TESS) Rating Lowered to Hold at ValuEngine

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ValuEngine cut shares of TESSCO Technologies (NASDAQ:TESS) from a buy rating to a hold rating in a report released on Tuesday, ValuEngine reports.

TESS has been the topic of several other reports. TheStreet lowered shares of TESSCO Technologies from a b- rating to a c rating in a research note on Tuesday, July 23rd. Zacks Investment Research lowered shares of TESSCO Technologies from a hold rating to a strong sell rating in a research note on Friday, July 26th.

Shares of NASDAQ:TESS opened at $14.32 on Tuesday. TESSCO Technologies has a 12 month low of $10.20 and a 12 month high of $20.00. The company has a quick ratio of 0.73, a current ratio of 1.56 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $14.75 and its 200 day simple moving average is $16.93. The firm has a market cap of $129.61 million, a price-to-earnings ratio of 22.03 and a beta of 1.25.

TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.21). TESSCO Technologies had a return on equity of 2.21% and a net margin of 0.32%. The company had revenue of $130.73 million for the quarter, compared to analyst estimates of $152.00 million. Research analysts expect that TESSCO Technologies will post 0.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.80 annualized dividend and a yield of 5.59%. TESSCO Technologies’s payout ratio is currently 123.08%.

In other TESSCO Technologies news, SVP Charles Kriete sold 3,747 shares of TESSCO Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $15.85, for a total value of $59,389.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.40% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Capital Management Corp VA acquired a new position in shares of TESSCO Technologies during the 2nd quarter worth about $9,333,000. BlackRock Inc. increased its position in TESSCO Technologies by 192.0% during the 2nd quarter. BlackRock Inc. now owns 577,786 shares of the communications equipment provider’s stock worth $10,320,000 after purchasing an additional 379,936 shares in the last quarter. Susquehanna International Group LLP acquired a new position in TESSCO Technologies during the 2nd quarter worth approximately $789,000. Municipal Employees Retirement System of Michigan acquired a new position in TESSCO Technologies in the 2nd quarter valued at approximately $718,000. Finally, Tieton Capital Management LLC increased its position in TESSCO Technologies by 10.4% in the 1st quarter. Tieton Capital Management LLC now owns 330,429 shares of the communications equipment provider’s stock valued at $5,115,000 after acquiring an additional 31,250 shares during the period. Hedge funds and other institutional investors own 61.91% of the company’s stock.

TESSCO Technologies Company Profile

TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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