CTS (NYSE:CTS) Downgraded by StockNews.com

StockNews.com cut shares of CTS (NYSE:CTSGet Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

A number of other research firms have also recently commented on CTS. Stephens raised their price target on shares of CTS to $41.00 and gave the stock an outperform rating in a report on Wednesday, July 27th. Cowen raised their price target on shares of CTS to $38.00 and gave the stock an outperform rating in a report on Wednesday, July 27th. Sidoti upgraded shares of CTS from a neutral rating to a buy rating and set a $43.00 price target for the company in a report on Wednesday, July 13th. Finally, TheStreet cut shares of CTS from a b rating to a c rating in a report on Wednesday, June 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $33.80.

CTS Price Performance

Shares of NYSE CTS opened at $40.26 on Tuesday. CTS has a twelve month low of $28.72 and a twelve month high of $41.77. The firm has a fifty day simple moving average of $36.66 and a 200 day simple moving average of $35.65. The company has a market capitalization of $1.28 billion, a PE ratio of -60.09 and a beta of 0.80. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.19.

CTS (NYSE:CTSGet Rating) last announced its earnings results on Tuesday, July 26th. The electronics maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. CTS had a negative net margin of 4.00% and a positive return on equity of 15.32%. The business had revenue of $144.98 million during the quarter, compared to the consensus estimate of $146.18 million. During the same quarter last year, the firm earned $0.52 earnings per share. CTS’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that CTS will post 2.4 EPS for the current year.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, June 17th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Thursday, June 16th. CTS’s dividend payout ratio is currently -23.88%.

Insider Activity

In other news, Director Ye Jane Li sold 4,000 shares of CTS stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $36.39, for a total transaction of $145,560.00. Following the completion of the transaction, the director now directly owns 7,800 shares in the company, valued at $283,842. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in CTS by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,203,937 shares of the electronics maker’s stock worth $77,887,000 after purchasing an additional 51,223 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in CTS by 3.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,521,723 shares of the electronics maker’s stock worth $55,877,000 after purchasing an additional 51,319 shares during the last quarter. Brown Advisory Inc. boosted its holdings in CTS by 1.9% during the second quarter. Brown Advisory Inc. now owns 1,275,718 shares of the electronics maker’s stock worth $43,523,000 after purchasing an additional 23,777 shares during the last quarter. State Street Corp boosted its holdings in CTS by 2.4% during the first quarter. State Street Corp now owns 1,076,650 shares of the electronics maker’s stock worth $38,091,000 after purchasing an additional 25,471 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in CTS by 5.0% during the first quarter. Tributary Capital Management LLC now owns 382,811 shares of the electronics maker’s stock worth $13,529,000 after purchasing an additional 18,378 shares during the last quarter. 91.02% of the stock is currently owned by hedge funds and other institutional investors.

About CTS

(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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