Tesco (TESO) Lifted to “Buy” at Goldman Sachs Group

Tesco (NASDAQ:TESO) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, December 4th, Marketbeat Ratings reports.

Other analysts have also issued research reports about the company. B. Riley reaffirmed a “buy” rating on shares of Tesco in a research note on Wednesday, November 1st. FBR & Co set a $7.00 price target on Tesco and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Seaport Global Securities restated a “neutral” rating on shares of Tesco in a report on Wednesday, August 9th. Zacks Investment Research downgraded Tesco from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, ValuEngine downgraded Tesco from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Tesco presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Shares of Tesco (TESO) traded down $0.10 on Monday, reaching $3.95. The company had a trading volume of 389,300 shares, compared to its average volume of 421,151. Tesco has a 52-week low of $3.60 and a 52-week high of $9.65.

Tesco (NASDAQ:TESO) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.01. The company had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $43.24 million. Tesco had a negative return on equity of 16.27% and a negative net margin of 38.60%. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) earnings per share. equities analysts anticipate that Tesco will post -0.94 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 dated Thursday, November 2nd. The stock was sold at an average price of $3.80, for a total transaction of $35,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 34,505 shares of company stock worth $136,522. Company insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. KCG Holdings Inc. bought a new stake in shares of Tesco in the 1st quarter worth $116,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Tesco during the second quarter worth $105,000. Voya Investment Management LLC raised its position in shares of Tesco by 25.9% during the second quarter. Voya Investment Management LLC now owns 24,546 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 5,046 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Tesco during the second quarter worth $128,000. Finally, Tudor Investment Corp ET AL raised its position in shares of Tesco by 180.1% during the second quarter. Tudor Investment Corp ET AL now owns 29,332 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 18,861 shares during the period. Hedge funds and other institutional investors own 87.10% of the company’s stock.

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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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