CTS (NYSE:CTS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

CTS has been the topic of a number of other research reports. Weiss Ratings downgraded CTS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Lake Street Capital initiated coverage on CTS in a report on Wednesday, September 2nd. They set a “buy” rating and a $67.00 price target for the company. Zacks Research downgraded CTS from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Barrington Research started coverage on shares of CTS in a report on Thursday, September 10th. They issued an “outperform” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, CTS has an average rating of “Moderate Buy” and an average target price of $73.50.

CTS Price Performance

CTS stock opened at $58.57 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.07 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $59.93 and a 200 day moving average price of $58.33. CTS has a 12-month low of $36.03 and a 12-month high of $69.55. The stock has a market cap of $1.67 billion, a P/E ratio of 24.61, a PEG ratio of 1.37 and a beta of 1.03.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.13. CTS had a net margin of 12.37% and a return on equity of 13.48%. The company had revenue of $144.78 million for the quarter, compared to analyst estimates of $143.43 million. During the same period in the previous year, the business posted $0.62 EPS. CTS has set its FY 2026 guidance at 2.550-2.700 EPS. Sell-side analysts anticipate that CTS will post 2.66 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, September 25th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 25th. CTS’s dividend payout ratio (DPR) is currently 6.72%.

Hedge Funds Weigh In On CTS

A number of institutional investors and hedge funds have recently made changes to their positions in CTS. Engineers Gate Manager LP purchased a new stake in shares of CTS during the second quarter worth approximately $853,000. Integrated Wealth Concepts LLC purchased a new position in CTS in the second quarter worth approximately $79,000. Squarepoint Ops LLC purchased a new position in CTS in the second quarter worth approximately $667,000. Nykredit A S acquired a new position in CTS during the 2nd quarter worth approximately $25,000. Finally, Corient Private Wealth LP grew its holdings in CTS by 29.0% during the 2nd quarter. Corient Private Wealth LP now owns 8,537 shares of the electronics maker’s stock worth $557,000 after acquiring an additional 1,921 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

About CTS

CTS Corporation (NYSE: CTS) designs and manufactures sensors, actuators, electronic components and assemblies used in a range of industrial and commercial applications. Its products include pressure, temperature and position sensors; piezoelectric and other actuators; switches; electronic controls; frequency-control products; and custom-engineered assemblies.

The company serves customers in the transportation, aerospace and defense, industrial, medical and communications markets. CTS products are used in applications such as vehicle systems, industrial automation, medical equipment, aerospace systems and other products that require sensing, control, switching or electronic connectivity.

CTS traces its history to 1896, when it was established as Chicago Telephone Supply.