Tom Armistead's  Instablog

Tom Armistead
Send Message
I am a retired accountant, having spent the early years of my career in the insurance industry and the later part in the field of accounting. My insurance experience has given me the willingness to accept investment risk if I feel the return justifies it; also, an interest in applying risk... More
My blog:
Tom Armistead's Instablog
  • Tessco: Close to Target, Time to Sell 0 comments
    Aug 5, 2009 11:13 AM | about stocks: TESS

    I wrote Tessco (NASDAQ:TESS) up favorably on 1/4/09 at 9.27.  The stock has since traded up as high as 17.00 and is now trading at 15.99. 

    My target price at the time was 18.00 within two years.  By March 9 the stock was selling under 6.00 and I bought some at the time for 5.60, a small buy, part of an ongoing project at the time to be sure I was buying at the bottom.  That price was well under tangible book of 10.44 and afforded ample margin of security.  

    I have since liquidated my position, selling early because the stock is not particularly liquid and I wanted to maximize flexibility. 

    2010 Guidance comes in at 1.35, applying a multiple of 15 would give you 20 a share.  Tessco is a favorite of mine and I have never lost any money on it.  However, at this point in time there are other tech stocks trading at bigger discounts to realistic targets, and with that in mind I would look for lower prices before I would re-enter this position.

    Stocks: TESS
Back To Tom Armistead's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • $CRC filed 8-K, they amended their covenants. Being thrown out of S&P 400 mid-cap index, OXY unloading its remaining shares, I added today
    Feb 24, 2016
  • $CRR just noticed a form SC 13G, Wilks Bros, Dan and Staci Wilks own about 10%. Texas billionaires. Compare that to the huge short interest.
    Jan 16, 2016
  • $CRC reveals they have received a 24 month modification of their term loan and revolver. This reduces potential financial stress.
    Mar 24, 2015
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.