Zacks Investment Research upgraded shares of MTS Systems Corp. (NASDAQ:MTSC) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $51.00 target price on the stock.

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. “

A number of other brokerages have also recently issued reports on MTSC. Wells Fargo & Co. started coverage on shares of MTS Systems Corp. in a research report on Wednesday, August 17th. They issued a market perform rating for the company. JPMorgan Chase & Co. started coverage on shares of MTS Systems Corp. in a research report on Thursday, June 23rd. They issued an overweight rating and a $54.00 target price for the company. Finally, Sidoti raised shares of MTS Systems Corp. from a neutral rating to a buy rating and set a $55.00 target price for the company in a research report on Thursday, October 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $57.00.

Shares of MTS Systems Corp. (NASDAQ:MTSC) opened at 46.31 on Tuesday. MTS Systems Corp. has a 52-week low of $41.53 and a 52-week high of $68.28. The firm has a 50-day moving average of $46.24 and a 200 day moving average of $48.25. The firm has a market cap of $772.17 million, a PE ratio of 22.49 and a beta of 1.60.

MTS Systems Corp. (NASDAQ:MTSC) last announced its earnings results on Monday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.04. The company earned $157.70 million during the quarter, compared to analysts’ expectations of $146.77 million. MTS Systems Corp. had a net margin of 5.37% and a return on equity of 12.45%. MTS Systems Corp.’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts predict that MTS Systems Corp. will post $2.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date was Thursday, September 15th. MTS Systems Corp.’s payout ratio is 58.54%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Investment Management LLC increased its position in shares of MTS Systems Corp. by 728.6% in the second quarter. Confluence Investment Management LLC now owns 262,705 shares of the company’s stock valued at $11,517,000 after buying an additional 230,999 shares during the last quarter. Prudential Financial Inc. increased its position in shares of MTS Systems Corp. by 6.9% in the first quarter. Prudential Financial Inc. now owns 37,232 shares of the company’s stock valued at $2,266,000 after buying an additional 2,400 shares during the last quarter. BlackRock Group LTD increased its position in shares of MTS Systems Corp. by 7.6% in the first quarter. BlackRock Group LTD now owns 20,421 shares of the company’s stock valued at $1,242,000 after buying an additional 1,443 shares during the last quarter. Thomson Horstmann & Bryant Inc. acquired a new position in shares of MTS Systems Corp. during the second quarter valued at approximately $736,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of MTS Systems Corp. during the second quarter valued at approximately $1,003,000. 96.96% of the stock is owned by hedge funds and other institutional investors.

About MTS Systems Corp.

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.

5 Day Chart for NASDAQ:MTSC

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