CTS (NYSE:CTS) Upgraded to “Hold” at Zacks Investment Research

CTS (NYSE:CTS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “CTS Corporation is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components and supplies these products to OEMs in the aerospace, communications, defense, industrial, information technology, medical and transportation markets. CTS focus on providing advanced technology, exceptional customer service and superior value to industry partners throughout the globe. CTS aims to be at the forefront of technology, delivering innovative sensing, connectivity and motion solutions for the creation and advancement of products and services around the world. CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, as well as the provision of electronics manufacturing services worldwide. It operates in two segments, Electronics Manufacturing Services, and Components and Sensors. “

A number of other research firms have also issued reports on CTS. Cowen initiated coverage on shares of CTS in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $34.00 price target for the company. Gabelli reissued a “hold” rating on shares of CTS in a research report on Friday, April 26th. Finally, ValuEngine raised shares of CTS from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd.

Shares of NYSE CTS traded up $0.77 during mid-day trading on Monday, reaching $29.10. The company had a trading volume of 116,200 shares, compared to its average volume of 148,611. The stock has a fifty day moving average of $29.02 and a two-hundred day moving average of $29.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.15 and a current ratio of 2.60. The company has a market capitalization of $904.27 million, a price-to-earnings ratio of 19.02 and a beta of 1.28. CTS has a 12-month low of $24.07 and a 12-month high of $37.10.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covenant Multifamily Offices LLC purchased a new stake in shares of CTS in the first quarter worth approximately $26,000. Investors Research Corp purchased a new stake in shares of CTS in the first quarter worth approximately $32,000. Trust Co. of Vermont purchased a new stake in shares of CTS in the second quarter worth approximately $41,000. Quantamental Technologies LLC purchased a new stake in shares of CTS in the first quarter worth approximately $56,000. Finally, BNP Paribas Arbitrage SA raised its position in CTS by 288.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,809 shares of the electronics maker’s stock valued at $200,000 after acquiring an additional 5,054 shares in the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

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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