Stephens Initiates Coverage on CTS (NYSE:CTS)

Equities research analysts at Stephens initiated coverage on shares of CTS (NYSE:CTS) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set an “equal weight” rating on the electronics maker’s stock.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised CTS from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. ValuEngine raised CTS from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. CTS has a consensus rating of “Hold” and a consensus target price of $34.00.

Shares of CTS stock opened at $31.85 on Thursday. The firm has a market cap of $1.02 billion, a P/E ratio of 19.68 and a beta of 1.31. The company has a current ratio of 2.60, a quick ratio of 2.15 and a debt-to-equity ratio of 0.19. CTS has a 12 month low of $24.07 and a 12 month high of $34.01. The stock’s fifty day moving average price is $30.84 and its 200-day moving average price is $29.39.

CTS (NYSE:CTS) last announced its quarterly earnings results on Thursday, July 25th. The electronics maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $120.68 million for the quarter, compared to analyst estimates of $115.10 million. CTS had a return on equity of 13.92% and a net margin of 10.72%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts forecast that CTS will post 1.59 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in CTS by 20.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,286,150 shares of the electronics maker’s stock worth $63,052,000 after buying an additional 385,708 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of CTS by 257.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 34,660 shares of the electronics maker’s stock valued at $956,000 after purchasing an additional 24,960 shares during the period. JPMorgan Chase & Co. boosted its position in shares of CTS by 160.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 53,390 shares of the electronics maker’s stock valued at $1,474,000 after purchasing an additional 32,861 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of CTS by 11.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 293,399 shares of the electronics maker’s stock valued at $8,092,000 after purchasing an additional 31,176 shares during the period. Finally, Northern Trust Corp boosted its position in shares of CTS by 0.6% in the 2nd quarter. Northern Trust Corp now owns 1,242,533 shares of the electronics maker’s stock valued at $34,269,000 after purchasing an additional 7,008 shares during the period. 93.74% of the stock is currently owned by 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.

Further Reading: Overbought

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