Zacks: TESSCO Technologies, Inc. (NASDAQ:TESS) Given Average Recommendation of “Strong Buy” by Analysts

Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Zacks has also assigned TESSCO Technologies an industry rank of 181 out of 256 based on the ratings given to related companies.

A number of research analysts recently issued reports on TESS shares. ValuEngine upgraded shares of TESSCO Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research downgraded shares of TESSCO Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 28th.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in TESSCO Technologies by 2.0% in the third quarter. Vanguard Group Inc. now owns 233,002 shares of the communications equipment provider’s stock valued at $3,553,000 after purchasing an additional 4,600 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of TESSCO Technologies in the 4th quarter valued at about $68,000. 22NW LP grew its position in shares of TESSCO Technologies by 14.1% in the 4th quarter. 22NW LP now owns 314,639 shares of the communications equipment provider’s stock valued at $3,776,000 after acquiring an additional 38,770 shares during the period. BlackRock Inc. grew its position in shares of TESSCO Technologies by 5.1% in the 4th quarter. BlackRock Inc. now owns 205,597 shares of the communications equipment provider’s stock valued at $2,467,000 after acquiring an additional 9,891 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of TESSCO Technologies by 26.7% in the 4th quarter. Bank of New York Mellon Corp now owns 83,141 shares of the communications equipment provider’s stock valued at $998,000 after acquiring an additional 17,542 shares during the period. Institutional investors own 58.69% of the company’s stock.

Shares of NASDAQ:TESS traded down $0.17 during trading on Thursday, reaching $18.39. The stock had a trading volume of 100 shares, compared to its average volume of 32,448. The business’s fifty day moving average is $18.02. TESSCO Technologies has a 52 week low of $10.20 and a 52 week high of $20.00. The stock has a market capitalization of $161.75 million, a PE ratio of 28.32 and a beta of 1.35.

TESSCO Technologies (NASDAQ:TESS) last posted its quarterly earnings data on Monday, May 6th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.10). TESSCO Technologies had a net margin of 0.91% and a return on equity of 5.11%. The firm had revenue of $144.96 million during the quarter, compared to the consensus estimate of $147.88 million. Research analysts expect that TESSCO Technologies will post 0.67 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.35%. TESSCO Technologies’s payout ratio is presently 123.08%.

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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