TSS (NASDAQ:TSSI) Price Target Lowered to $13.00 at Needham & Company LLC

TSS (NASDAQ:TSSI) had its price objective reduced by analysts at Needham & Company LLC from $16.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 8.70% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered TSS from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered shares of TSS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, TSS has an average rating of “Moderate Buy” and a consensus target price of $16.17.

TSS Stock Down 1.2%

Shares of NASDAQ:TSSI opened at $11.96 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.18 and a quick ratio of 1.99. The stock has a market cap of $335.72 million, a price-to-earnings ratio of 24.41 and a beta of 2.09. The company has a 50 day moving average of $11.39 and a 200-day moving average of $11.70. TSS has a one year low of $6.87 and a one year high of $21.77.

TSS (NASDAQ:TSSI) last released its earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $35.14 million for the quarter. TSS had a return on equity of 25.27% and a net margin of 7.14%. On average, sell-side analysts forecast that TSS will post 0.32 earnings per share for the current year.

Insider Activity at TSS

In related news, SVP Kieran Brennan sold 10,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the sale, the senior vice president owned 271,333 shares in the company, valued at approximately $4,341,328. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter H. Woodward sold 200,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.07, for a total value of $3,214,000.00. Following the sale, the director owned 983,521 shares of the company’s stock, valued at $15,805,182.47. The trade was a 16.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 310,000 shares of company stock valued at $4,922,000 over the last 90 days. Corporate insiders own 15.97% of the company’s stock.

Institutional Investors Weigh In On TSS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in TSS during the 2nd quarter worth $917,000. Vestor Capital LLC boosted its stake in shares of TSS by 1,786.8% during the first quarter. Vestor Capital LLC now owns 12,000 shares of the company’s stock valued at $156,000 after purchasing an additional 11,364 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of TSS by 21.2% during the first quarter. Bank of America Corp DE now owns 23,034 shares of the company’s stock worth $300,000 after purchasing an additional 4,026 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of TSS by 78.5% during the first quarter. Royal Bank of Canada now owns 25,849 shares of the company’s stock worth $336,000 after purchasing an additional 11,365 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of TSS in the first quarter valued at approximately $261,000.

TSS Company Profile

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments. TSS Inc, formerly known as Fortress International Group, Inc, is based in Columbia, United States.