Barrington Research Downgrades DTS Inc. (DTSI) to Market Perform
DTS Inc. (NASDAQ:DTSI) was downgraded by equities research analysts at Barrington Research from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday.
A number of other equities research analysts also recently weighed in on the company. William Blair downgraded DTS from an “outperform” rating to a “market perform” rating in a report on Tuesday. Dougherty & Co raised their target price on DTS from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research raised DTS from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a report on Friday, August 12th. JPMorgan Chase & Co. set a $29.00 target price on DTS and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, B. Riley set a $34.00 target price on DTS and gave the company a “buy” rating in a report on Monday, August 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $38.25.
Shares of DTS (NASDAQ:DTSI) opened at 42.47 on Tuesday. DTS has a 52 week low of $19.62 and a 52 week high of $42.49. The company’s 50 day moving average price is $33.36 and its 200-day moving average price is $26.55. The firm’s market capitalization is $746.11 million.
DTS (NASDAQ:DTSI) last issued its earnings results on Monday, August 8th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.18. The firm had revenue of $48.70 million for the quarter, compared to the consensus estimate of $44.61 million. DTS had a positive return on equity of 8.90% and a negative net margin of 6.37%. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, equities research analysts expect that DTS will post $2.23 EPS for the current fiscal year.
The business also recently announced a special dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were given a dividend of $0.02 per share. The ex-dividend date was Thursday, August 18th. DTS’s dividend payout ratio is currently -13.11%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. raised its position in shares of DTS by 14.3% in the first quarter. Prudential Financial Inc. now owns 45,515 shares of the company’s stock valued at $991,000 after buying an additional 5,700 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of DTS by 91.7% in the second quarter. Mutual of America Capital Management LLC now owns 156,880 shares of the company’s stock valued at $4,149,000 after buying an additional 75,037 shares in the last quarter. State Street Corp raised its position in shares of DTS by 0.5% in the first quarter. State Street Corp now owns 338,870 shares of the company’s stock valued at $7,377,000 after buying an additional 1,853 shares in the last quarter. Trigran Investments Inc. raised its position in shares of DTS by 17.1% in the first quarter. Trigran Investments Inc. now owns 1,821,090 shares of the company’s stock valued at $39,663,000 after buying an additional 265,648 shares in the last quarter. Finally, Virginia Retirement System bought a new position in shares of DTS during the first quarter valued at about $891,000. 99.54% of the stock is owned by institutional investors and hedge funds.
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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