DTS Inc. (DTSI) Raised to Buy at Zacks Investment Research
DTS Inc. (NASDAQ:DTSI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $47.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.11% from the company’s current price.
According to Zacks, “DTS, Inc. is a digital technology company dedicated to delivering the ultimate entertainment experience. DTS decoders are in virtually every major brand of 5.1-channel surround processors, and there are more than 300 million DTS-licensed consumer electronics products available worldwide. A pioneer in multi-channel audio, DTS technology is in home theatre, car audio, PC and game console products, as well as DVD-Video, Surround Music and DVD-ROM software. “
Several other brokerages also recently issued reports on DTSI. William Blair downgraded shares of DTS from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. B. Riley downgraded shares of DTS from a “buy” rating to a “neutral” rating and increased their price objective for the company from $37.00 to $42.50 in a research report on Wednesday, September 21st. Barrington Research increased their price objective on shares of DTS from $29.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. Dougherty & Co cut DTS from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 20th. Finally, JPMorgan Chase & Co. set a $29.00 target price on DTS and gave the company a “hold” rating in a research note on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.92.
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Shares of DTS (NASDAQ:DTSI) traded up 0.07% during trading on Tuesday, hitting $42.30. 80,955 shares of the stock were exchanged. The firm has a 50 day moving average of $38.69 and a 200-day moving average of $29.19. DTS has a 12-month low of $19.62 and a 12-month high of $42.80. The company’s market cap is $743.13 million.
DTS (NASDAQ:DTSI) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.18. DTS had a negative net margin of 6.37% and a positive return on equity of 8.90%. The company earned $48.70 million during the quarter, compared to the consensus estimate of $44.61 million. During the same quarter last year, the company earned $0.34 earnings per share. DTS’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, analysts forecast that DTS will post $2.23 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in DTSI. Capstone Asset Management Co. purchased a new position in shares of DTS during the third quarter valued at about $222,000. Schwab Charles Investment Management Inc. boosted its position in shares of DTS by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,248 shares of the company’s stock valued at $1,515,000 after buying an additional 1,020 shares during the period. B. Riley Financial Inc. purchased a new position in shares of DTS during the second quarter valued at about $212,000. Arizona State Retirement System purchased a new position in shares of DTS during the second quarter valued at about $241,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of DTS by 11.4% in the second quarter. Westwood Holdings Group Inc. now owns 423,697 shares of the company’s stock valued at $11,207,000 after buying an additional 43,263 shares during the period. Hedge funds and other institutional investors own 98.74% of the company’s stock.
DTS, Inc is an audio technology solutions provider for high-definition entertainment experiences. The Company’s audio solutions are designed to enable recording, delivery and playback of high-definition audio, and are included by licensee customers around the world into a range of consumer electronics devices, including televisions, personal computers (PCs), smartphones, tablets, digital media players (DMPs), set-top-boxes, soundbars, wireless speakers, video game consoles, Blu-ray Disc players, automotive audio systems, audio/video receivers (AVRs), digital versatile disc (DVD)-based products and home theater systems.
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