HSBC Upgrades Tesco Corp to Buy

By Austin Angelo

HSBC analyst Dave McCarthy upgraded Tesco Corp (NASDAQ: TESO) to Buy on November 14. The company’s shares closed yesterday at $7.35.

McCarthy has an average return of 3.9% when recommending Tesco Corp.

According to TipRanks.com, McCarthy is ranked #3155 out of 4226 analysts.

Tesco Corp has an analyst consensus of Strong Buy.

The company has a one year high of $9.77 and a one year low of $5.13. Currently, Tesco Corp has an average volume of 187.5K.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Gary Kott, a Director at TESO sold 15,432 shares for a total of $108,950.

Tesco Corp. engages in designs, manufactures, and provides technology based solutions for the upstream energy industry. It also designs and manufactures drilling rigs, drilling machinery and related equipment. It operates through five segments: Products, Tubular Services, Research and Engineering, and Corporate and Other. The Products segment sells product, rental services, and after-market sales and services. The Tubular Services segment includes land and offshore services augmented by sales of products, accessories and consumables for the casing running process. The Research and Engineering segment comprise of internal research and development activities related to tubular services and top drive model development. The Corporate and Other segment include of executive management and several global support and compliance functions. The company was founded on December 1, 1993 and is headquartered in Houston, TX.