StockNews.com Lowers CTS (NYSE:CTS) to Hold

StockNews.com cut shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research note published on Monday morning.

CTS Stock Performance

NYSE CTS opened at $47.03 on Monday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 27.66 and a beta of 0.58. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $48.52 and a 200-day moving average price of $48.54. CTS has a twelve month low of $35.50 and a twelve month high of $55.47.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million during the quarter, compared to analyst estimates of $133.33 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts predict that CTS will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 0.34%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s payout ratio is presently 9.41%.

Hedge Funds Weigh In On CTS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in CTS by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock valued at $131,280,000 after buying an additional 33,636 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of CTS by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after purchasing an additional 50,632 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of CTS by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock valued at $58,787,000 after purchasing an additional 94,901 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of CTS by 4.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,187,171 shares of the electronics maker’s stock valued at $51,927,000 after purchasing an additional 47,730 shares during the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of CTS by 160.3% in the 1st quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock valued at $45,103,000 after purchasing an additional 593,641 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

CTS Company Profile

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.