CTS (NYSE:CTS) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a report released on Tuesday.

CTS Stock Down 1.1 %

Shares of CTS opened at $48.98 on Tuesday. The stock has a 50 day moving average price of $49.54 and a 200 day moving average price of $48.36. CTS has a one year low of $35.50 and a one year high of $55.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.41. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 28.81 and a beta of 0.59.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. CTS had a net margin of 10.70% and a return on equity of 11.98%. The firm had revenue of $130.16 million for the quarter, compared to the consensus estimate of $133.33 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research analysts forecast that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s dividend payout ratio (DPR) is currently 9.41%.

Institutional Investors Weigh In On CTS

A number of hedge funds have recently modified their holdings of CTS. Parallel Advisors LLC grew its stake in shares of CTS by 245.5% in the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after buying an additional 410 shares during the period. Innealta Capital LLC acquired a new position in CTS in the second quarter valued at approximately $27,000. Canada Pension Plan Investment Board purchased a new position in CTS in the second quarter worth approximately $41,000. Central Pacific Bank Trust Division acquired a new stake in CTS during the first quarter worth $46,000. Finally, Quadrant Capital Group LLC raised its position in CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.