MTS Systems Corp. (NASDAQ:MTSC) was downgraded by Zacks Investment Research from a “buy” 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. “

Several other analysts also recently commented on the company. JPMorgan Chase & Co. restated a “buy” rating and issued a $54.00 target price on shares of MTS Systems Corp. in a research note on Wednesday, July 20th. Sidoti upgraded MTS Systems Corp. from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, October 13th. Finally, Wells Fargo & Co. initiated coverage on MTS Systems Corp. in a research note on Wednesday, August 17th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. MTS Systems Corp. has a consensus rating of “Buy” and an average price target of $57.00.

Analyst Recommendations for MTS Systems Corp. (NASDAQ:MTSC)

MTS Systems Corp. (NASDAQ:MTSC) opened at 46.13 on Wednesday. MTS Systems Corp. has a 12 month low of $41.53 and a 12 month high of $68.28. The firm’s 50-day moving average price is $46.24 and its 200-day moving average price is $48.25. The firm has a market cap of $769.17 million, a P/E ratio of 22.40 and a beta of 1.60.

MTS Systems Corp. (NASDAQ:MTSC) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, topping 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 firm earned $157.70 million during the quarter, compared to the consensus estimate of $146.77 million. During the same period last year, the business posted $0.72 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts expect that MTS Systems Corp. will post $2.43 EPS for the current fiscal year.

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

A number of institutional investors have recently made changes to their positions in MTSC. TIAA CREF Investment Management LLC boosted its position in shares of MTS Systems Corp. by 15.9% in the first quarter. TIAA CREF Investment Management LLC now owns 56,747 shares of the company’s stock valued at $3,453,000 after buying an additional 7,789 shares during the last quarter. Prudential Financial Inc. boosted 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 boosted 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. JPMorgan Chase & Co. boosted its position in shares of MTS Systems Corp. by 6.3% in the first quarter. JPMorgan Chase & Co. now owns 17,130 shares of the company’s stock valued at $1,042,000 after buying an additional 1,008 shares during the last quarter. Finally, Zebra Capital Management LLC boosted its position in shares of MTS Systems Corp. by 25.2% in the first quarter. Zebra Capital Management LLC now owns 9,331 shares of the company’s stock valued at $568,000 after buying an additional 1,880 shares during the last quarter. 96.96% of the stock is currently owned by institutional investors and hedge funds.

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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