Zacks Investment Research Downgrades MTS Systems Corp. (MTSC) to Hold
MTS Systems Corp. (NASDAQ:MTSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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. “
MTSC has been the subject of several other reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $54.00 price objective on shares of MTS Systems Corp. in a research note on Wednesday, July 20th. Sidoti raised shares of MTS Systems Corp. from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Thursday, October 13th. Finally, Wells Fargo & Co. started coverage on shares of MTS Systems Corp. in a research note on Wednesday, August 17th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.00.
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MTS Systems Corp. (NASDAQ:MTSC) opened at 46.13 on Wednesday. The company has a 50-day moving average of $46.24 and a 200 day moving average of $48.25. MTS Systems Corp. has a 12 month low of $41.53 and a 12 month high of $68.28. The company has a market cap of $769.17 million, a PE ratio of 22.40 and a beta of 1.60.
MTS Systems Corp. (NASDAQ:MTSC) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm earned $157.70 million during the quarter, compared to the consensus estimate of $146.77 million. MTS Systems Corp. had a net margin of 5.37% and a return on equity of 12.45%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that MTS Systems Corp. will post $2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, September 15th. MTS Systems Corp.’s dividend payout ratio is currently 58.54%.
Institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its position in shares of MTS Systems Corp. by 98.0% in the second quarter. Acrospire Investment Management LLC now owns 2,424 shares of the company’s stock valued at $106,000 after buying an additional 1,200 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in shares of MTS Systems Corp. during the second quarter worth $141,000. Royal Bank of Canada boosted its stake in shares of 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 period. AXA acquired a new stake in shares of MTS Systems Corp. during the second quarter worth $167,000. Finally, Trexquant Investment LP acquired a new stake in shares of MTS Systems Corp. during the second quarter worth $229,000. Institutional investors own 96.96% of the company’s stock.
MTS Systems Corp. Company Profile
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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