ValuEngine Lowers TESSCO Technologies (NASDAQ:TESS) to Hold

ValuEngine cut shares of TESSCO Technologies (NASDAQ:TESS) from a buy rating to a hold rating in a research report released on Tuesday, September 17th, ValuEngine reports.

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

Shares of TESS traded up $0.09 on Tuesday, hitting $14.53. 53,401 shares of the stock traded hands, compared to its average volume of 47,339. TESSCO Technologies has a 1 year low of $10.20 and a 1 year 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 stock’s 50 day moving average is $14.81 and its two-hundred day moving average is $16.74. The firm has a market capitalization of $119.64 million, a P/E ratio of 22.35 and a beta of 1.22.

TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported ($0.23) EPS for the quarter, missing the consensus estimate 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 forecast that TESSCO Technologies will post 0.29 EPS for the current year.

In related news, SVP Charles Kriete sold 3,747 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $15.85, for a total transaction of $59,389.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 24.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TESS. JPMorgan Chase & Co. bought a new position in shares of TESSCO Technologies in the 2nd quarter worth about $32,000. Brown Advisory Inc. lifted its position in shares of TESSCO Technologies by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 74,419 shares of the communications equipment provider’s stock worth $1,329,000 after buying an additional 1,875 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TESSCO Technologies by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 615,648 shares of the communications equipment provider’s stock worth $7,388,000 after buying an additional 2,576 shares during the last quarter. Tieton Capital Management LLC lifted its position in TESSCO Technologies by 1.1% in the 2nd quarter. Tieton Capital Management LLC now owns 334,039 shares of the communications equipment provider’s stock valued at $5,966,000 after purchasing an additional 3,610 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in TESSCO Technologies in the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 61.91% of the company’s stock.

About TESSCO Technologies

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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