CTS (NYSE:CTS) Raised to “Buy” at StockNews.com

CTS (NYSE:CTS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

CTS Stock Performance

Shares of CTS stock traded down $0.18 on Thursday, reaching $51.43. 80,408 shares of the stock were exchanged, compared to its average volume of 121,461. CTS has a twelve month low of $40.09 and a twelve month high of $59.68. The business has a 50 day moving average price of $53.88 and a two-hundred day moving average price of $50.58. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 26.51 and a beta of 0.60.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The business had revenue of $132.42 million for the quarter. During the same period last year, the company earned $0.54 earnings per share. Analysts anticipate that CTS will post 2.15 earnings per share for the current fiscal year.

Insider Activity at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 12,794 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total transaction of $710,067.00. Following the transaction, the chief executive officer now owns 400,456 shares in the company, valued at approximately $22,225,308. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 59,956 shares of company stock worth $3,331,185. 2.00% of the stock is owned by company insiders.

Institutional Trading of CTS

A number of institutional investors and hedge funds have recently made changes to their positions in CTS. Wasatch Advisors LP increased its holdings in CTS by 23.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock worth $96,463,000 after acquiring an additional 374,104 shares in the last quarter. Earnest Partners LLC grew its position in shares of CTS by 3.0% in the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after purchasing an additional 50,632 shares during the period. Geode Capital Management LLC raised its position in shares of CTS by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CTS by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,602 shares of the electronics maker’s stock worth $18,655,000 after purchasing an additional 9,674 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in CTS by 5.4% in the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after buying an additional 15,062 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.