CTS (NYSE:CTS) Upgraded to Buy by 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 Tuesday.

CTS Price Performance

CTS opened at $49.30 on Tuesday. CTS has a 1 year low of $35.50 and a 1 year high of $55.47. The firm has a market capitalization of $1.52 billion, a PE ratio of 29.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.71. The business’s 50-day moving average is $49.41 and its two-hundred day moving average is $48.39.

CTS (NYSE:CTS) last issued 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 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 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research analysts anticipate that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid 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 dividend yield of 0.32%. CTS’s payout ratio is 9.41%.

Institutional Investors Weigh In On CTS

A number of institutional investors and hedge funds have recently modified their holdings of CTS. Handelsbanken Fonder AB acquired a new stake in shares of CTS during the fourth quarter worth about $209,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of CTS by 21.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 63,888 shares of the electronics maker’s stock worth $2,794,000 after purchasing an additional 11,079 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of CTS by 13.9% during the fourth quarter. Russell Investments Group Ltd. now owns 15,340 shares of the electronics maker’s stock worth $671,000 after purchasing an additional 1,871 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of CTS by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 17,022 shares of the electronics maker’s stock worth $745,000 after purchasing an additional 255 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CTS by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock worth $15,374,000 after purchasing an additional 8,248 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.