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

CTS Co. (NYSE:CTS) has received a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. CTS’s rating score has improved by 33.3% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus price objective of $31.00 for the company, according to Zacks. Zacks has also assigned CTS an industry rank of 105 out of 256 based on the ratings given to related companies.

A number of analysts recently issued reports on the company. Gabelli reissued a “hold” rating on shares of CTS in a research report on Friday, April 26th. Cowen assumed coverage on CTS in a research report on Tuesday, May 21st. They set an “outperform” rating and a $34.00 price objective for the company. Finally, Zacks Investment Research downgraded CTS from a “hold” rating to a “sell” rating in a research report on Friday, March 15th.

Shares of NYSE:CTS traded down $0.15 during midday trading on Tuesday, reaching $27.86. 100,548 shares of the company’s stock were exchanged, compared to its average volume of 151,679. The stock has a 50 day moving average price of $27.55. 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 company has a market capitalization of $906.16 million, a PE ratio of 18.21 and a beta of 1.29. CTS has a fifty-two week low of $24.07 and a fifty-two week high of $39.20.

CTS (NYSE:CTS) last issued its quarterly earnings data on Thursday, April 25th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $117.60 million during the quarter, compared to the consensus estimate of $115.90 million. CTS had a return on equity of 14.21% and a net margin of 9.78%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. On average, analysts expect that CTS will post 1.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 21st will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, June 20th. CTS’s dividend payout ratio is currently 10.46%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors Inc. boosted its stake in shares of CTS by 4.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,254 shares of the electronics maker’s stock valued at $242,000 after buying an additional 388 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of CTS by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,560 shares of the electronics maker’s stock valued at $610,000 after buying an additional 518 shares during the period. Texas Permanent School Fund boosted its stake in shares of CTS by 2.7% in the 1st quarter. Texas Permanent School Fund now owns 22,226 shares of the electronics maker’s stock valued at $653,000 after buying an additional 574 shares during the period. Covenant Multifamily Offices LLC purchased a new position in shares of CTS in the 1st quarter valued at about $26,000. Finally, Investors Research Corp purchased a new position in shares of CTS in the 1st quarter valued at about $32,000. 94.29% of the stock is 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.

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