CTS (NYSE:CTS) Rating Increased to Buy at StockNews.com

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

CTS Stock Performance

CTS stock opened at $48.25 on Thursday. The stock has a 50-day moving average price of $47.26 and a 200-day moving average price of $48.92. CTS has a 1-year low of $35.50 and a 1-year high of $55.47. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.49 billion, a PE ratio of 28.38 and a beta of 0.57.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, beating 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 business had revenue of $130.16 million during the quarter, compared to analyst estimates of $133.33 million. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that CTS will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

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 issued 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 is Friday, September 27th. CTS’s dividend payout ratio is currently 9.41%.

Institutional Trading of CTS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pitcairn Co. lifted its position in shares of CTS by 3.2% during the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 222 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of CTS by 2.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after acquiring an additional 249 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of CTS by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock worth $887,000 after acquiring an additional 285 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CTS by 5.8% during the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after acquiring an additional 308 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares in 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.