MTS Systems Corp. (NASDAQ:MTSC) was upgraded by equities research analysts at Sidoti from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $55.00 price objective on the stock. Sidoti’s price target would suggest a potential upside of 22.17% from the stock’s current price.
A number of other research analysts have also issued reports on MTSC. Stephens upgraded shares of MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 17th. JPMorgan Chase & Co. initiated coverage on shares of MTS Systems Corp. in a research note on Thursday, June 23rd. They set an “overweight” rating and a $54.00 price target on the stock. Zacks Investment Research upgraded shares of MTS Systems Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Wells Fargo & Co. initiated coverage on shares of MTS Systems Corp. in a research report on Wednesday, August 17th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. MTS Systems Corp. currently has a consensus rating of “Buy” and an average price target of $60.00.
MTS Systems Corp. (NASDAQ:MTSC) opened at 45.02 on Thursday. MTS Systems Corp. has a 1-year low of $41.53 and a 1-year high of $68.28. The firm has a 50-day moving average of $46.48 and a 200-day moving average of $48.66. The stock has a market capitalization of $750.66 million, a price-to-earnings ratio of 21.86 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. MTS Systems Corp. had a net margin of 5.37% and a return on equity of 12.45%. The business had revenue of $157.70 million for the quarter, compared to analyst estimates of $146.77 million. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that MTS Systems Corp. will post $2.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.20 annualized dividend and a yield of 2.67%. MTS Systems Corp.’s payout ratio is currently 58.54%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Levin Capital Strategies L.P. bought a new position in shares of MTS Systems Corp. during the second quarter valued at $30,934,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of MTS Systems Corp. by 39.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,266,533 shares of the company’s stock valued at $55,525,000 after buying an additional 361,528 shares during the period. Loews Corp acquired a new stake in shares of MTS Systems Corp. during the second quarter valued at about $12,056,000. Confluence Investment Management LLC increased its stake 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 period. Finally, Vanguard Group Inc. increased its stake in shares of MTS Systems Corp. by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,303,099 shares of the company’s stock valued at $57,128,000 after buying an additional 151,440 shares during the period. Institutional investors own 96.99% of the company’s stock.
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.
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