CTS (NYSE:CTS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CTS (NYSE:CTS) from a hold rating to a buy rating in a research report report published on Thursday morning.

CTS Price Performance

Shares of CTS traded up $0.24 during trading hours on Thursday, hitting $47.71. 565 shares of the stock were exchanged, compared to its average volume of 149,300. The stock’s 50-day moving average price is $47.22 and its two-hundred day moving average price is $48.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 26.81 and a beta of 0.57. CTS has a 12-month low of $35.50 and a 12-month high of $55.47.

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

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.34%. CTS’s payout ratio is 9.04%.

Institutional Trading of CTS

A number of hedge funds and other institutional investors have recently modified their holdings of CTS. Innealta Capital LLC purchased a new stake in shares of CTS during the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in CTS in the second quarter valued at $41,000. Central Pacific Bank Trust Division acquired a new position in shares of CTS in the 1st quarter valued at $46,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of CTS during the 2nd quarter worth $157,000. 96.87% of the stock is owned by institutional investors and hedge funds.

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.