Canaccord Genuity Reiterates Buy Rating for TTM Technologies (TTMI)

TTM Technologies (NASDAQ:TTMI)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a report released on Friday, MarketBeat Ratings reports. They presently have a $12.00 price target on the stock. Canaccord Genuity’s price objective points to a potential upside of 56.05% from the stock’s current price.

Shares of TTM Technologies (NASDAQ:TTMI) traded down 6.45% on Friday, hitting $7.69. The company’s stock had a trading volume of 1,772,480 shares. The stock’s 50-day moving average price is $9.51 and its 200-day moving average price is $9.17. TTM Technologies has a 52 week low of $5.59 and a 52 week high of $10.93. The firm has a market cap of $646.11 million and a price-to-earnings ratio of 29.24.

TTM Technologies (NASDAQ:TTMI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters consensus estimate of $0.14 by $0.03. During the same quarter last year, the company posted $0.05 earnings per share. The company had revenue of $445.45 million for the quarter, compared to analyst estimates of $441.13 million. The business’s revenue was up 49.7% compared to the same quarter last year. Equities analysts expect that TTM Technologies will post $0.80 earnings per share for the current fiscal year.

Several other research analysts also recently commented on the company. Needham & Company LLC reduced their price target on TTM Technologies from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday. Zacks cut TTM Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus cut TTM Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. began coverage on TTM Technologies in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $12.50 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. TTM Technologies currently has an average rating of “Buy” and a consensus price target of $11.10.

In related news, Director James K. Bass sold 4,000 shares of TTM Technologies stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.80, for a total transaction of $39,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tai Keung Chung sold 100,000 shares of TTM Technologies stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $9.74, for a total value of $974,000.00. The disclosure for this sale can be found here.

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