CTS (NYSE:CTS) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of CTS (NYSE:CTS) from a sell rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “CTS Corporation is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components and supplies these products to OEMs in the aerospace, communications, defense, industrial, information technology, medical and transportation markets. CTS focus on providing advanced technology, exceptional customer service and superior value to industry partners throughout the globe. CTS aims to be at the forefront of technology, delivering innovative sensing, connectivity and motion solutions for the creation and advancement of products and services around the world. CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, as well as the provision of electronics manufacturing services worldwide. It operates in two segments, Electronics Manufacturing Services, and Components and Sensors. “

Other analysts have also recently issued research reports about the company. Cowen began coverage on CTS in a research report on Tuesday, May 21st. They set an outperform rating and a $34.00 price objective for the company. ValuEngine upgraded CTS from a sell rating to a hold rating in a research report on Monday, July 22nd.

Shares of NYSE:CTS traded down $0.03 during midday trading on Monday, hitting $32.74. 2,277 shares of the stock were exchanged, compared to its average volume of 142,871. The stock has a market cap of $986.60 million, a P/E ratio of 21.41 and a beta of 1.32. The company has a current ratio of 2.60, a quick ratio of 2.15 and a debt-to-equity ratio of 0.19. CTS has a twelve month low of $24.07 and a twelve month high of $37.10. The company has a 50 day moving average price of $29.51 and a 200-day moving average price of $29.22.

CTS (NYSE:CTS) last released its quarterly earnings results on Thursday, July 25th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $120.68 million during the quarter, compared to the consensus estimate of $115.10 million. CTS had a return on equity of 13.92% and a net margin of 10.72%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS. On average, equities research analysts expect that CTS will post 1.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, September 26th. CTS’s dividend payout ratio is presently 10.46%.

Institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont purchased a new stake in CTS during the 2nd quarter worth about $41,000. Quantamental Technologies LLC purchased a new stake in CTS during the 1st quarter worth about $56,000. Investors Research Corp increased its position in CTS by 90.9% during the 2nd quarter. Investors Research Corp now owns 2,100 shares of the electronics maker’s stock worth $58,000 after purchasing an additional 1,000 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in CTS by 288.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,809 shares of the electronics maker’s stock worth $200,000 after purchasing an additional 5,054 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in CTS during the 1st quarter worth about $223,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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