MTS Systems Corp. (MTSC) Upgraded to Hold at Zacks Investment Research
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 research analysts have also recently issued reports about the company. Wells Fargo & Co. initiated coverage on MTS Systems Corp. in a research report on Wednesday, August 17th. They set a market perform rating on the stock. Stephens raised MTS Systems Corp. from an equal weight rating to an overweight rating in a research report on Friday, June 17th. Finally, JPMorgan Chase & Co. initiated coverage on MTS Systems Corp. in a research report on Thursday, June 23rd. They set an overweight rating and a $54.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. MTS Systems Corp. presently has an average rating of Buy and an average price target of $61.67.
Shares of MTS Systems Corp. (NASDAQ:MTSC) opened at 42.57 on Wednesday. The company has a market capitalization of $709.81 million, a PE ratio of 20.68 and a beta of 1.60. MTS Systems Corp. has a 52 week low of $41.68 and a 52 week high of $68.28. The company has a 50-day moving average price of $46.80 and a 200-day moving average price of $48.78.
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, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $146.77 million. MTS Systems Corp. had a return on equity of 12.45% and a net margin of 5.37%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. Analysts predict that MTS Systems Corp. will post $2.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.82%. MTS Systems Corp.’s payout ratio is currently 58.54%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its position in MTS Systems Corp. by 98.0% in the second quarter. Acrospire Investment Management LLC now owns 2,424 shares of the company’s stock worth $106,000 after buying an additional 1,200 shares during the last quarter. Mason Street Advisors LLC bought a new position in MTS Systems Corp. during the second quarter worth $141,000. Royal Bank of Canada boosted its position in MTS Systems Corp. by 198.2% in the second quarter. Royal Bank of Canada now owns 3,674 shares of the company’s stock worth $161,000 after buying an additional 2,442 shares during the last quarter. AXA bought a new position in MTS Systems Corp. during the second quarter worth $167,000. Finally, Trexquant Investment LP bought a new position in MTS Systems Corp. during the second quarter worth $229,000. 96.99% of the stock is currently 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.
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