CTS (NYSE:CTS) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of CTS (NYSE:CTS – Get Rating) in a research report issued on Thursday. The brokerage set a “buy” rating on the electronics maker’s stock.

Other analysts also recently issued reports about the stock. Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of CTS in a research report on Wednesday, February 8th. Jefferies Financial Group initiated coverage on shares of CTS in a research note on Tuesday, November 22nd. They set a “hold” rating and a $44.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, CTS currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

CTS Trading Down 1.0 %

NYSE:CTS opened at $44.88 on Thursday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 24.13 and a beta of 0.72. The company’s 50 day moving average price is $44.71 and its 200-day moving average price is $42.52. CTS has a 52 week low of $31.90 and a 52 week high of $48.18. The company has a quick ratio of 2.34, a current ratio of 2.89 and a debt-to-equity ratio of 0.17.

CTS (NYSE:CTS – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The electronics maker reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. CTS had a net margin of 10.15% and a return on equity of 16.14%. The business had revenue of $142.28 million for the quarter, compared to the consensus estimate of $148.56 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that CTS will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kieran M. O’sullivan sold 15,979 shares of CTS stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $47.00, for a total value of $751,013.00. Following the transaction, the chief executive officer now owns 481,807 shares of the company’s stock, valued at approximately $22,644,929. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Kieran M. O’sullivan sold 2,746 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $47.00, for a total value of $129,062.00. Following the sale, the chief executive officer now directly owns 498,035 shares of the company’s stock, valued at approximately $23,407,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kieran M. O’sullivan sold 15,979 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $47.00, for a total transaction of $751,013.00. Following the completion of the transaction, the chief executive officer now owns 481,807 shares of the company’s stock, valued at $22,644,929. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,759 shares of company stock worth $881,673. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CTS

Large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in CTS by 516.8% during the third quarter. Quadrant Capital Group LLC now owns 1,030 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 863 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of CTS in the second quarter valued at about $40,000. Point72 Hong Kong Ltd purchased a new stake in shares of CTS in the second quarter valued at about $56,000. AXS Investments LLC purchased a new stake in shares of CTS in the fourth quarter valued at about $76,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in CTS during the third quarter worth about $82,000. 95.61% of the stock is currently owned by institutional investors and hedge funds.

About CTS

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CTS Corp. engages in the design and manufacture of sensors, connectivity components, and actuators. Its products include controls, pedals, piezo sensing products, sensors, switches, transducers, electromagnetic and radio frequency interference filters, capacitors, frequency control, resistors, piezo microactuators, and rotary microactuators.