CTS Corp. (CTS) Lowered to “Neutral” at Sidoti
Other equities analysts have also issued reports about the stock. B. Riley initiated coverage on shares of CTS Corp. in a research report on Tuesday, November 15th. They set a buy rating and a $22.00 price target on the stock. TheStreet downgraded shares of CTS Corp. from a buy rating to a hold rating in a research note on Friday, October 28th.
CTS Corp. (NYSE:CTS) opened at 22.45 on Monday. The firm has a 50 day moving average of $18.99 and a 200-day moving average of $18.64. CTS Corp. has a 52 week low of $12.87 and a 52 week high of $22.80. The company has a market capitalization of $735.46 million, a P/E ratio of 59.08 and a beta of 1.22.
CTS Corp. (NYSE:CTS) last released its quarterly earnings results on Friday, October 28th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. CTS Corp. had a net margin of 3.20% and a return on equity of 11.19%. The business had revenue of $99.70 million for the quarter, compared to analyst estimates of $97.54 million. During the same period last year, the firm earned $0.23 earnings per share. CTS Corp.’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts forecast that CTS Corp. will post $1.05 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, December 23rd will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, December 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.72%. CTS Corp.’s payout ratio is 43.24%.
A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of CTS Corp. during the third quarter worth about $101,000. Mason Street Advisors LLC purchased a new stake in shares of CTS Corp. during the second quarter worth about $115,000. Municipal Employees Retirement System of Michigan increased its stake in shares of CTS Corp. by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,270 shares of the company’s stock worth $135,000 after buying an additional 120 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of CTS Corp. by 197.6% in the second quarter. Acrospire Investment Management LLC now owns 7,831 shares of the company’s stock worth $140,000 after buying an additional 5,200 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of CTS Corp. by 261.1% in the second quarter. BlackRock Inc. now owns 9,352 shares of the company’s stock worth $168,000 after buying an additional 6,762 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.
About CTS Corp.
CTS Corporation (CTS) is a global manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the automotive, communications, defense and aerospace, medical, industrial and computer markets.
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