TTM Technologies (NASDAQ:TTMI) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $11.00 price objective on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 27.76% from the company’s current price.
The analysts wrote, “We are upgrading TTMI to Overweight from Neutral based on valuation. 4Q guidance, issued last week, was a bit disappointing, causing the stock to trade down 15% over the last five trading days (S&P500 up 0.22%). We think this yields an entry point for long-term investors. We still anticipate improved demand in 2014 and significantly better margins owing to restructuring action taken in 2013. There is no change to our estimates or December 2014 price target of $11.00.”
Shares of TTM Technologies (NASDAQ:TTMI) traded up 13.36% during mid-day trading on Tuesday, hitting $9.76. 449,044 shares of the company’s stock traded hands. TTM Technologies has a one year low of $6.53 and a one year high of $10.91. The stock has a 50-day moving average of $9.88 and a 200-day moving average of $9.01. The company has a market cap of $806.5 million and a P/E ratio of 29.19.
TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.14 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $338.70 million for the quarter, compared to the consensus estimate of $347.00 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts predict that TTM Technologies will post $0.58 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of TTM Technologies from $12.00 to $11.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Analysts at Needham & Company raised their price target on shares of TTM Technologies from $11.00 to $13.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. TTM Technologies has an average rating of “Buy” and an average price target of $11.50.
TTM Technologies, Inc (NASDAQ:TTMI) is a provider of time-critical and technologically complex printed circuit board (PCB) products and backplane assemblies (PCBs populated with electronic components), which serves as the foundation of sophisticated electronic products.
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