William Blair Reaffirms “Buy” Rating for TESSCO Technologies (TESS)

TESSCO Technologies (NASDAQ:TESS)‘s stock had its “buy” rating restated by stock analysts at William Blair in a report issued on Tuesday, MarketBeat Ratings reports. William Blair also issued estimates for TESSCO Technologies’ Q3 2019 earnings at $0.19 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.62 EPS, Q1 2020 earnings at $0.13 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.24 EPS, Q4 2020 earnings at $0.13 EPS and FY2020 earnings at $0.68 EPS.

Separately, ValuEngine downgraded TESSCO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th.

Shares of TESSCO Technologies stock traded up $0.02 during midday trading on Tuesday, hitting $11.43. 620 shares of the company were exchanged, compared to its average volume of 11,572. The company has a market capitalization of $96.45 million, a PE ratio of 20.82 and a beta of 1.44. TESSCO Technologies has a 52 week low of $11.01 and a 52 week high of $24.85.

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in TESSCO Technologies by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 445,500 shares of the communications equipment provider’s stock valued at $7,707,000 after purchasing an additional 65,801 shares during the last quarter. Putnam Investments LLC bought a new position in TESSCO Technologies in the 2nd quarter valued at $1,730,000. Dimensional Fund Advisors LP raised its position in TESSCO Technologies by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 602,618 shares of the communications equipment provider’s stock valued at $10,425,000 after purchasing an additional 57,479 shares during the last quarter. Acadian Asset Management LLC bought a new position in TESSCO Technologies in the 2nd quarter valued at $588,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of TESSCO Technologies by 732.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,849 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 5,146 shares during the period. Hedge funds and other institutional investors own 62.97% 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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