Zacks Investment Research upgraded shares of MTS Systems Corp. (NASDAQ:MTSC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $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. “
Several other brokerages have also weighed in on MTSC. Wells Fargo & Co. began coverage on MTS Systems Corp. in a report on Wednesday, August 17th. They issued a market perform rating for the company. JPMorgan Chase & Co. reissued a buy rating and issued a $54.00 price objective on shares of MTS Systems Corp. in a report on Wednesday, July 20th. Finally, Sidoti raised MTS Systems Corp. from a neutral rating to a buy rating and set a $55.00 price objective for the company in a report on Thursday, October 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MTS Systems Corp. has an average rating of Buy and a consensus price target of $57.00.
MTS Systems Corp. (NASDAQ:MTSC) opened at 46.31 on Tuesday. 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 $772.17 million, a P/E ratio of 22.49 and a beta of 1.60. MTS Systems Corp. has a 52 week low of $41.53 and a 52 week high of $68.28.
MTS Systems Corp. (NASDAQ:MTSC) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, topping the 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 company earned $157.70 million during the quarter, compared to analyst estimates of $146.77 million. During the same quarter last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts forecast that MTS Systems Corp. will post $2.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, September 15th. MTS Systems Corp.’s payout ratio is presently 58.54%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC raised its position in MTS Systems Corp. by 728.6% in the second quarter. Confluence Investment Management LLC now owns 262,705 shares of the company’s stock worth $11,517,000 after buying an additional 230,999 shares during the last quarter. Prudential Financial Inc. raised its position in MTS Systems Corp. by 6.9% in the first quarter. Prudential Financial Inc. now owns 37,232 shares of the company’s stock worth $2,266,000 after buying an additional 2,400 shares during the last quarter. BlackRock Group LTD raised its position in MTS Systems Corp. by 7.6% in the first quarter. BlackRock Group LTD now owns 20,421 shares of the company’s stock worth $1,242,000 after buying an additional 1,443 shares during the last quarter. Thomson Horstmann & Bryant Inc. bought a new position in MTS Systems Corp. during the second quarter worth $736,000. Finally, Emerald Acquisition Ltd. bought a new position in MTS Systems Corp. during the second quarter worth $1,003,000. 96.96% of the stock is 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.
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