CTS (NYSE:CTS) Sees Large Volume Increase

CTS Co. (NYSE:CTSGet Rating) shares saw strong trading volume on Friday . 8,682 shares traded hands during trading, a decline of 93% from the previous session’s volume of 131,418 shares.The stock last traded at $42.48 and had previously closed at $42.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. 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 research report on Wednesday, July 13th. Stephens raised their price objective on shares of CTS to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Cowen raised their price objective on shares of CTS to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com lowered shares of CTS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 13th. Finally, TheStreet raised shares of CTS from a “c” rating to a “b-” rating in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CTS has an average rating of “Moderate Buy” and an average target price of $33.80.

CTS Trading Down 0.4 %

The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $40.45 and its two-hundred day simple moving average is $37.48. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -63.61 and a beta of 0.78.

CTS (NYSE:CTSGet Rating) last released its quarterly earnings data 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. The company had revenue of $144.98 million for the quarter, compared to analysts’ expectations of $146.18 million. CTS had a negative net margin of 4.00% and a positive return on equity of 15.32%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts predict that CTS Co. will post 2.55 EPS for the current year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Friday, September 30th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. CTS’s payout ratio is -23.88%.

Hedge Funds Weigh In On CTS

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in CTS by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,150,545 shares of the electronics maker’s stock valued at $107,276,000 after buying an additional 59,524 shares during the period. Vanguard Group Inc. increased its stake in CTS by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 2,203,937 shares of the electronics maker’s stock valued at $77,887,000 after buying an additional 51,223 shares during the period. Goldman Sachs Group Inc. increased its stake in CTS by 3.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,521,723 shares of the electronics maker’s stock valued at $55,877,000 after buying an additional 51,319 shares during the period. Brown Advisory Inc. increased its stake in CTS by 2.1% in the 2nd quarter. Brown Advisory Inc. now owns 1,288,470 shares of the electronics maker’s stock valued at $43,872,000 after buying an additional 26,104 shares during the period. Finally, State Street Corp increased its stake in CTS by 1.9% in the 2nd quarter. State Street Corp now owns 1,097,019 shares of the electronics maker’s stock valued at $37,397,000 after buying an additional 20,369 shares during the period. 92.16% of the stock is owned by institutional investors and hedge funds.

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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