Truist Financial Forecasts Strong Price Appreciation for Sensata Technologies (NYSE:ST) Stock

Key Points

• Truist Financial has raised its price target for Sensata Technologies from $27.00 to $35.00, indicating a potential upside of 12.74% from the company's previous close.
• Currently, the average rating for Sensata Technologies' stock is "Hold," with an average target price of $34.64, according to several analysts.
• Despite recent positive outlooks from some firms, Sensata's stock has seen a 4.5% decline in trading on Wednesday, falling to $31.05.

Sensata Technologies (NYSE:ST - Get Free Report) had its price objective raised by analysts at Truist Financial from $27.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the scientific and technical instruments company's stock. Truist Financial's target price would suggest a potential upside of 18.40% from the company's previous close.

Several other brokerages have also recently commented on ST. Wells Fargo & Company upped their target price on Sensata Technologies from $30.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday. Robert W. Baird lowered their target price on Sensata Technologies from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upped their target price on Sensata Technologies from $23.00 to $32.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Bank of America increased their price target on Sensata Technologies from $27.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded Sensata Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sensata Technologies currently has an average rating of "Hold" and a consensus target price of $34.64.

Sensata Technologies Stock Performance

Shares of ST traded down $1.20 during midday trading on Wednesday, reaching $29.56. 632,316 shares of the stock were exchanged, compared to its average volume of 1,784,891. Sensata Technologies has a twelve month low of $17.32 and a twelve month high of $39.04. The company has a quick ratio of 1.81, a current ratio of 2.71 and a debt-to-equity ratio of 1.11. The company has a market cap of $4.31 billion, a P/E ratio of 39.44, a PEG ratio of 1.30 and a beta of 1.13. The stock's 50 day simple moving average is $29.64 and its 200 day simple moving average is $26.86.

Sensata Technologies (NYSE:ST - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The scientific and technical instruments company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.03. Sensata Technologies had a return on equity of 16.88% and a net margin of 2.97%. The business had revenue of $943.38 million during the quarter, compared to the consensus estimate of $928.25 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Sensata Technologies's revenue for the quarter was down 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Sensata Technologies will post 3.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andrew C. Teich purchased 9,925 shares of the company's stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $25.19 per share, for a total transaction of $250,010.75. Following the purchase, the director owned 41,117 shares in the company, valued at $1,035,737.23. This trade represents a 31.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sensata Technologies

A number of hedge funds have recently made changes to their positions in ST. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Sensata Technologies by 8.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,433 shares of the scientific and technical instruments company's stock valued at $343,000 after acquiring an additional 1,003 shares in the last quarter. Norges Bank purchased a new position in shares of Sensata Technologies during the fourth quarter worth about $48,580,000. Pictet Asset Management Holding SA boosted its holdings in Sensata Technologies by 23.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 25,742 shares of the scientific and technical instruments company's stock valued at $705,000 after purchasing an additional 4,899 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Sensata Technologies in the 4th quarter valued at approximately $27,000. Finally, Headlands Technologies LLC boosted its holdings in Sensata Technologies by 524.8% in the 4th quarter. Headlands Technologies LLC now owns 2,768 shares of the scientific and technical instruments company's stock valued at $76,000 after purchasing an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Sensata Technologies Company Profile

Sensata Technologies Holding plc develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products used in mission-critical systems and applications in the United States and internationally. It operates in two segments, Performance Sensing and Sensing Solutions.