Sidoti lowered shares of CTS (NYSE:CTS – Free Report) from a buy rating to a neutral rating in a research report report published on Wednesday, MarketBeat reports. The brokerage currently has $46.00 target price on the electronics maker’s stock.
A number of other analysts have also recently weighed in on the stock. TD Cowen increased their price target on shares of CTS from $38.00 to $46.00 and gave the stock a market perform rating in a research note on Wednesday. Stephens decreased their price target on shares of CTS from $41.00 to $39.00 and set an equal weight rating for the company in a research note on Friday, October 27th. Finally, StockNews.com cut shares of CTS from a buy rating to a hold rating in a research note on Friday, December 1st.
CTS Trading Down 6.9 %
CTS (NYSE:CTS – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. CTS had a net margin of 11.00% and a return on equity of 13.41%. The company had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. During the same period in the prior year, the firm posted $0.56 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities analysts predict that CTS will post 2.35 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CTS
Large investors have recently made changes to their positions in the stock. Annex Advisory Services LLC increased its holdings in shares of CTS by 43.1% in the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock valued at $652,000 after purchasing an additional 4,708 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of CTS in the 3rd quarter valued at about $774,000. Tributary Capital Management LLC increased its holdings in CTS by 1.8% during the 3rd quarter. Tributary Capital Management LLC now owns 281,215 shares of the electronics maker’s stock valued at $11,738,000 after acquiring an additional 4,933 shares in the last quarter. Barclays PLC increased its holdings in CTS by 2.4% during the 2nd quarter. Barclays PLC now owns 25,379 shares of the electronics maker’s stock valued at $1,082,000 after acquiring an additional 585 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in CTS by 2.3% during the 3rd quarter. Brown Advisory Inc. now owns 1,235,401 shares of the electronics maker’s stock valued at $51,566,000 after acquiring an additional 27,808 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.
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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