TESSCO Technologies (NASDAQ:TESS) Upgraded at Zacks Investment Research

TESSCO Technologies (NASDAQ:TESS – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $6.50 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 4.84% from the stock’s previous close.

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. “

Separately, StockNews.com began coverage on TESSCO Technologies in a research note on Friday. They issued a “hold” rating for the company.

Shares of TESS stock traded up $0.38 during trading on Tuesday, hitting $6.20. The company had a trading volume of 2,146 shares, compared to its average volume of 31,129. The stock has a market capitalization of $55.68 million, a price-to-earnings ratio of -20.67 and a beta of 0.97. The stock’s 50-day moving average is $6.00 and its two-hundred day moving average is $6.10. The company has a quick ratio of 1.23, a current ratio of 2.02 and a debt-to-equity ratio of 0.50. TESSCO Technologies has a 52 week low of $5.08 and a 52 week high of $8.32.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its stake in shares of TESSCO Technologies by 5.8% during the fourth quarter. Northern Trust Corp now owns 33,395 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 1,824 shares during the period. Essex Investment Management Co. LLC boosted its stake in shares of TESSCO Technologies by 2.5% during the first quarter. Essex Investment Management Co. LLC now owns 93,356 shares of the communications equipment provider’s stock valued at $564,000 after purchasing an additional 2,261 shares during the period. BlackRock Inc. boosted its stake in shares of TESSCO Technologies by 0.7% during the first quarter. BlackRock Inc. now owns 392,739 shares of the communications equipment provider’s stock valued at $2,373,000 after purchasing an additional 2,636 shares during the period. Marshall Wace LLP purchased a new stake in shares of TESSCO Technologies during the fourth quarter valued at approximately $26,000. Finally, Morgan Stanley boosted its stake in shares of TESSCO Technologies by 16.7% during the third quarter. Morgan Stanley now owns 37,173 shares of the communications equipment provider’s stock valued at $207,000 after purchasing an additional 5,317 shares during the period. 54.84% of the stock is owned by institutional investors and hedge funds.

TESSCO Technologies Company Profile (Get Rating)

TESSCO Technologies Incorporated architects and delivers product and value chain solutions to support wireless systems in the United States and internationally. 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 products, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems.

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