Tesco (TESO) Stock Rating Upgraded by Goldman Sachs Group

Tesco (NASDAQ:TESO) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other analysts have also issued reports on the stock. Zacks Investment Research raised shares of Tesco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. ValuEngine lowered shares of Tesco from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Cowen set a $5.00 price target on shares of Tesco and gave the stock a “hold” rating in a research report on Friday, October 6th. FBR & Co set a $7.00 price objective on shares of Tesco and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.00.

Tesco (TESO) traded up $0.05 during midday trading on Monday, hitting $4.35. 377,211 shares of the stock were exchanged, compared to its average volume of 419,645. Tesco has a 1-year low of $3.60 and a 1-year high of $9.65.

Tesco (NASDAQ:TESO) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The business had revenue of $40.50 million during the quarter, compared to analyst estimates of $43.24 million. Tesco had a negative net margin of 38.60% and a negative return on equity of 16.27%. The firm’s revenue was up 33.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. research analysts anticipate that Tesco will post -0.92 EPS for the current fiscal year.

In related news, CEO Fernando Rafael Assing sold 9,293 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total transaction of $35,313.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 21,695 shares of company stock worth $82,720. Insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TESO. Texas Permanent School Fund grew its holdings in Tesco by 0.8% during the second quarter. Texas Permanent School Fund now owns 34,112 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 286 shares during the last quarter. Rhumbline Advisers grew its holdings in Tesco by 1.6% during the second quarter. Rhumbline Advisers now owns 93,642 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 1,435 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Tesco by 4.5% during the first quarter. Alliancebernstein L.P. now owns 46,410 shares of the oil and gas company’s stock valued at $374,000 after purchasing an additional 2,000 shares during the last quarter. Citigroup Inc. grew its holdings in Tesco by 6.6% during the second quarter. Citigroup Inc. now owns 38,854 shares of the oil and gas company’s stock valued at $172,000 after purchasing an additional 2,404 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in Tesco by 7.4% during the second quarter. Aperio Group LLC now owns 35,442 shares of the oil and gas company’s stock valued at $158,000 after purchasing an additional 2,455 shares during the last quarter. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

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Tesco Company Profile

Tesco Corporation is a provider of technology-based solutions for drilling, servicing and completion of wells for the upstream energy industry. The Company’s operations consist of top drives and automated pipe handling equipment sales and rentals; aftermarket sales and services, and tubular services, including related products and accessories sales.

Analyst Recommendations for Tesco (NASDAQ:TESO)

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