CTS (NYSE:CTS) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

CTS Trading Up 1.7 %

Shares of CTS opened at $49.01 on Tuesday. CTS has a 52-week low of $35.50 and a 52-week high of $55.47. The company has a quick ratio of 2.71, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average is $49.44 and its two-hundred day moving average is $48.37. The stock has a market cap of $1.51 billion, a PE ratio of 28.83 and a beta of 0.59.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Research analysts forecast that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. CTS’s dividend payout ratio is presently 9.41%.

Institutional Trading of CTS

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning raised its holdings in CTS by 27.6% in the 2nd quarter. Creative Planning now owns 13,170 shares of the electronics maker’s stock valued at $667,000 after buying an additional 2,852 shares during the period. The Manufacturers Life Insurance Company increased its stake in CTS by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock worth $778,000 after purchasing an additional 444 shares during the period. Earnest Partners LLC increased its stake in CTS by 3.0% during the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after purchasing an additional 50,632 shares during the period. AQR Capital Management LLC increased its stake in CTS by 5.8% during the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after purchasing an additional 308 shares during the period. Finally, Marshall Wace LLP purchased a new stake in CTS during the second quarter worth about $2,662,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Company Profile

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.