CTS (NYSE:CTS) Cut to Neutral at Sidoti

CTS (NYSE:CTSGet Rating) was downgraded by equities researchers at Sidoti from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of CTS from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Monday, May 23rd. TheStreet raised shares of CTS from a “c” rating to a “b” rating in a report on Thursday, May 26th. Finally, StockNews.com raised shares of CTS from a “buy” rating to a “strong-buy” rating in a report on Friday, May 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $32.25.

NYSE CTS opened at $41.19 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 2.08. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -39.99 and a beta of 0.66. CTS has a 1-year low of $28.72 and a 1-year high of $41.77. The business’s fifty day moving average price is $36.17 and its 200-day moving average price is $35.69.

CTS (NYSE:CTSGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter. CTS had a positive return on equity of 14.93% and a negative net margin of 6.32%. The business had revenue of $147.70 million during the quarter, compared to analyst estimates of $134.15 million. During the same quarter in the prior year, the business posted $0.46 EPS. CTS’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that CTS will post 2.15 EPS for the current year.

In other CTS news, Director Ye Jane Li sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $36.39, for a total transaction of $145,560.00. Following the sale, the director now directly owns 7,800 shares in the company, valued at approximately $283,842. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.22% of the company’s stock.

Large investors have recently modified their holdings of the stock. Everence Capital Management Inc. acquired a new stake in shares of CTS in the fourth quarter valued at about $221,000. Yousif Capital Management LLC purchased a new stake in shares of CTS during the fourth quarter worth about $1,088,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of CTS during the fourth quarter worth about $880,000. Bank of America Corp DE grew its holdings in shares of CTS by 2.7% during the fourth quarter. Bank of America Corp DE now owns 215,521 shares of the electronics maker’s stock worth $7,915,000 after buying an additional 5,566 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of CTS by 6.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,835 shares of the electronics maker’s stock worth $581,000 after buying an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 91.02% of the company’s stock.

CTS Company Profile (Get Rating)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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