Zacks: CTS Co. (NYSE:CTS) Receives Consensus Rating of “Buy” from Analysts

Shares of CTS Co. (NYSE:CTS) have been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. CTS’s rating score has improved by 33.3% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokers have set a 12 month consensus price target of $31.00 for the company, according to Zacks. Zacks has also assigned CTS an industry rank of 154 out of 256 based on the ratings given to its competitors.

CTS has been the subject of several research analyst reports. Gabelli reiterated a “hold” rating on shares of Rockwell Automation in a research report on Friday, April 26th. Cowen initiated coverage on shares of Littelfuse in a research report on Tuesday, May 21st. They set an “outperform” rating and a $210.00 target price for the company. Finally, ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, July 8th.

CTS stock traded down $0.09 during mid-day trading on Wednesday, hitting $27.77. 116,400 shares of the company traded hands, compared to its average volume of 149,996. CTS has a one year low of $24.07 and a one year high of $38.00. The firm has a market capitalization of $919.95 million, a PE ratio of 18.15 and a beta of 1.29. The company has a current ratio of 2.48, a quick ratio of 2.05 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $27.60.

CTS (NYSE:CTS) last announced its earnings results on Thursday, April 25th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. CTS had a net margin of 9.78% and a return on equity of 14.21%. The business had revenue of $117.60 million during the quarter, compared to analyst estimates of $115.90 million. During the same period in the previous year, the business posted $0.34 earnings per share. CTS’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that CTS will post 1.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, June 20th. CTS’s dividend payout ratio (DPR) is presently 10.46%.

Hedge funds have recently bought and sold shares of the business. Thrivent Financial for Lutherans raised its stake in shares of CTS by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 23,560 shares of the electronics maker’s stock worth $610,000 after acquiring an additional 518 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in shares of CTS by 4.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 8,254 shares of the electronics maker’s stock worth $242,000 after acquiring an additional 388 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of CTS during the fourth quarter worth approximately $1,011,000. Bank of America Corp DE raised its stake in shares of CTS by 35.0% during the fourth quarter. Bank of America Corp DE now owns 134,951 shares of the electronics maker’s stock worth $3,493,000 after acquiring an additional 35,005 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of CTS by 0.4% during the fourth quarter. BlackRock Inc. now owns 4,902,097 shares of the electronics maker’s stock worth $126,916,000 after acquiring an additional 19,563 shares in the last quarter. 94.29% of the stock is currently owned by hedge funds and other institutional investors.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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