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

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Zacks Investment Research upgraded shares of CTS (NYSE:CTS) from a sell rating to a hold rating in a report issued on Monday, 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 equities analysts have also issued reports about the stock. ValuEngine raised shares of CTS from a sell rating to a hold rating in a research report on Monday, July 22nd. Cowen began coverage on shares of CTS in a research report on Tuesday, May 21st. They set an outperform rating and a $34.00 price target on the stock.

NYSE:CTS opened at $32.29 on Monday. CTS has a 52 week low of $24.07 and a 52 week high of $36.80. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 21.10 and a beta of 1.33. The firm’s 50-day simple moving average is $29.67 and its 200 day simple moving average is $29.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.15 and a current ratio of 2.60.

CTS (NYSE:CTS) last released its quarterly earnings results on Thursday, July 25th. The electronics maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. CTS had a net margin of 10.72% and a return on equity of 13.92%. The business had revenue of $120.68 million for the quarter, compared to analyst estimates of $115.10 million. During the same period last year, the firm earned $0.39 earnings per share. CTS’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that CTS will post 1.59 EPS for the current year.

The firm also recently declared 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 0.50%. The ex-dividend date of this dividend is Thursday, September 26th. CTS’s dividend payout ratio is 10.46%.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in CTS by 0.8% in the 2nd quarter. BlackRock Inc. now owns 4,934,669 shares of the electronics maker’s stock valued at $136,098,000 after buying an additional 37,297 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in CTS by 20.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,286,150 shares of the electronics maker’s stock valued at $63,052,000 after buying an additional 385,708 shares during the period. Vanguard Group Inc. increased its holdings in CTS by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,003,895 shares of the electronics maker’s stock valued at $55,267,000 after buying an additional 8,952 shares during the period. Northern Trust Corp increased its holdings in CTS by 0.6% in the 2nd quarter. Northern Trust Corp now owns 1,242,533 shares of the electronics maker’s stock valued at $34,269,000 after buying an additional 7,008 shares during the period. Finally, FMR LLC increased its holdings in CTS by 14.0% in the 1st quarter. FMR LLC now owns 769,465 shares of the electronics maker’s stock valued at $22,599,000 after buying an additional 94,428 shares during the period. 93.74% of the stock is currently owned by institutional investors and hedge funds.

About CTS

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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