FBR Capital Releases a Buy Rating on Tesco Corp

By Carrie Williams

In a report issued on March 7, Tom Curran from FBR Capital maintained a Buy rating on Tesco Corp (NASDAQ: TESO), with a price target of $9. The company’s shares closed last Friday at $7.90.

According to TipRanks.com, Curran is a 1-star analyst with an average return of -0.9% and a 49.0% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.

Tesco Corp has an analyst consensus of Moderate Buy.

The company has a one year high of $9.77 and a one year low of $5.72. Currently, Tesco Corp has an average volume of 205.4K.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Michael Sutherlin, a Director at TESO bought 334 shares for a total of $2,906.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.