StockNews.com Downgrades CTS (NYSE:CTS) to Hold

StockNews.com cut shares of CTS (NYSE:CTSFree Report) from a buy rating to a hold rating in a report published on Thursday.

Other equities research analysts also recently issued research reports about the company. Sidoti downgraded CTS from a buy rating to a neutral rating and set a $46.00 price target for the company. in a research report on Wednesday, February 7th. TD Cowen upped their target price on CTS from $38.00 to $46.00 and gave the stock a market perform rating in a research report on Wednesday, February 7th.

View Our Latest Report on CTS

CTS Price Performance

CTS stock opened at $52.85 on Thursday. The stock has a 50-day moving average price of $48.94 and a two-hundred day moving average price of $45.03. CTS has a 12-month low of $35.50 and a 12-month high of $54.73. The company has a current ratio of 3.32, a quick ratio of 2.71 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.63 billion, a PE ratio of 31.09 and a beta of 0.60.

CTS (NYSE:CTSGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. As a group, research analysts predict that CTS will post 2.25 EPS for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, June 28th. CTS’s payout ratio is 9.41%.

Insider Transactions at CTS

In other news, CFO Ashish Agrawal sold 4,504 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $47.10, for a total value of $212,138.40. Following the completion of the sale, the chief financial officer now owns 128,777 shares of the company’s stock, valued at $6,065,396.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the completion of the transaction, the chief executive officer now owns 499,498 shares of the company’s stock, valued at $23,476,406. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ashish Agrawal sold 4,504 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $47.10, for a total value of $212,138.40. Following the completion of the transaction, the chief financial officer now directly owns 128,777 shares of the company’s stock, valued at approximately $6,065,396.70. The disclosure for this sale can be found here. Insiders sold 68,335 shares of company stock valued at $3,248,248 over the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTS. Wasatch Advisors LP boosted its holdings in CTS by 160.3% in the first quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock valued at $45,103,000 after purchasing an additional 593,641 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in CTS during the fourth quarter valued at approximately $9,855,000. Norges Bank acquired a new stake in CTS during the fourth quarter valued at approximately $8,859,000. Envestnet Asset Management Inc. raised its stake in CTS by 181.4% during the third quarter. Envestnet Asset Management Inc. now owns 216,035 shares of the electronics maker’s stock valued at $9,017,000 after buying an additional 139,269 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in CTS by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock valued at $113,947,000 after buying an additional 122,600 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

About CTS

(Get Free Report)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.

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