MTS Systems Corp. (MTSC) Stock Rating Upgraded by Zacks Investment Research
MTS Systems Corp. (NASDAQ:MTSC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “MTS Systems Corporation is a leading global supplier of test systems and industrial position sensors. The Company’s testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures. MTS’ high-performance position sensors provide controls for a variety of industrial and vehicular applications. “
Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $54.00 price target on shares of MTS Systems Corp. in a research report on Wednesday, July 20th. Wells Fargo & Co. assumed coverage on MTS Systems Corp. in a research report on Wednesday, August 17th. They set a “market perform” rating for the company. Finally, Stephens upgraded MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $61.67.
Shares of MTS Systems Corp. (NASDAQ:MTSC) opened at 42.49 on Wednesday. The firm has a 50-day moving average of $47.01 and a 200 day moving average of $48.83. MTS Systems Corp. has a 12 month low of $41.68 and a 12 month high of $68.28. The firm has a market cap of $708.48 million, a P/E ratio of 20.64 and a beta of 1.60.
MTS Systems Corp. (NASDAQ:MTSC) last released its quarterly earnings results on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.04. MTS Systems Corp. had a return on equity of 12.45% and a net margin of 5.37%. The business earned $157.70 million during the quarter, compared to analyst estimates of $146.77 million. During the same quarter last year, the company posted $0.72 EPS. MTS Systems Corp.’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that MTS Systems Corp. will post $2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. MTS Systems Corp.’s dividend payout ratio is 58.54%.
Several large investors have recently made changes to their positions in MTSC. Acrospire Investment Management LLC raised its stake in shares of MTS Systems Corp. by 98.0% in the second quarter. Acrospire Investment Management LLC now owns 2,424 shares of the company’s stock valued at $106,000 after buying an additional 1,200 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of MTS Systems Corp. during the second quarter valued at about $141,000. Royal Bank of Canada raised its stake in shares of MTS Systems Corp. by 198.2% in the second quarter. Royal Bank of Canada now owns 3,674 shares of the company’s stock valued at $161,000 after buying an additional 2,442 shares in the last quarter. AXA purchased a new stake in shares of MTS Systems Corp. during the second quarter valued at about $167,000. Finally, Trexquant Investment LP purchased a new stake in shares of MTS Systems Corp. during the second quarter valued at about $229,000. Institutional investors and hedge funds own 96.99% of the company’s stock.
MTS Systems Corp. Company Profile
MTS Systems Corporation (MTS) is a global supplier of test systems and position sensors. The Company’s operations are organized and managed in two business segments: the Test segment and the Sensors. Testing segment’s testing hardware, software and services solutions help customers improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures.
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