CTS (NYSE:CTS) Lifted to “Strong-Buy” at StockNews.com

CTS (NYSE:CTS – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Several other brokerages have also recently commented on CTS. Sidoti upgraded shares of CTS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, January 31st. TheStreet cut CTS from a “b-” rating to a “c” rating in a research note on Tuesday, April 26th. Finally, Zacks Investment Research cut CTS from a “buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $31.75.

Shares of CTS stock opened at $35.85 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.08 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $35.23 and its two-hundred day moving average price is $35.28. CTS has a 52 week low of $28.72 and a 52 week high of $39.49. The stock has a market cap of $1.15 billion, a PE ratio of -34.81 and a beta of 0.67.

CTS (NYSE:CTS – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.53 by $0.14. CTS had a negative net margin of 6.32% and a positive return on equity of 14.93%. The firm had revenue of $147.70 million for the quarter, compared to analysts’ expectations of $134.15 million. During the same period in the previous year, the business earned $0.46 earnings per share. CTS’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts predict that CTS will post 2.33 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. UMB Bank N A MO acquired a new stake in shares of CTS during the 4th quarter valued at about $33,000. FourThought Financial LLC lifted its holdings in CTS by 119.2% in the 1st quarter. FourThought Financial LLC now owns 991 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 539 shares during the last quarter. Trust Co. of Vermont acquired a new stake in CTS in the 4th quarter worth approximately $55,000. Point72 Hong Kong Ltd lifted its holdings in CTS by 1,132.3% in the 3rd quarter. Point72 Hong Kong Ltd now owns 2,440 shares of the electronics maker’s stock worth $75,000 after purchasing an additional 2,242 shares during the last quarter. Finally, Heritage Wealth Management LLC lifted its holdings in CTS by 28.3% in the 3rd quarter. Heritage Wealth Management LLC now owns 2,745 shares of the electronics maker’s stock worth $85,000 after purchasing an additional 605 shares during the last quarter. 91.02% of the stock is currently owned by institutional investors.

CTS Company Profile (Get Rating)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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