TTM Tech (NASDAQ: TTMI) was upgraded by equities researchers at TheStreet from a “sell” rating to a “hold” rating in a report issued on Tuesday.
The analysts wrote, “TTM Technologies (TTMI) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and a generally disappointing performance in the stock itself.”
TTM Tech opened at 7.89 on Tuesday. TTM Tech has a 52-week low of $7.37 and a 52-week high of $12.16. The stock’s 50-day moving average is currently $8.22. The company’s market cap is $646.5 million.
TTM Tech last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.06. The company had revenue of $382.40 million for the quarter, compared to the consensus estimate of $372.81 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. TTM Tech has set its Q1 guidance at $0.07-0.12 EPS. Analysts expect that TTM Tech will post $0.72 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their price target on shares of TTM Tech from $12.00 to $11.00 in a research note to investors on Monday, February 4th. They now have a “buy” rating on the stock. Analysts at Stifel Nicolaus downgraded shares of TTM Tech from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, January 15th.
Three analysts have rated the stock with a buy rating, and four have assigned a hold rating to the stock. The stock has a consensus rating of “overweight” and an average price target of $11.25.
TTM Technologies, Inc. (TTM) is a one-stop provider of printed circuit boards (PCBs) and backplane assemblies, which serve as the foundation of electronic products.
To view TheStreet’s full report, visit www.thestreetratings.com
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