CTS (NYSE:CTS) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of CTS (NYSE:CTS) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of CTS in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

CTS Stock Performance

Shares of CTS opened at $40.07 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.61 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $41.06 and its 200-day moving average price is $40.91. CTS has a 52 week low of $34.02 and a 52 week high of $59.68. The stock has a market cap of $1.18 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.11 and a beta of 0.84.

CTS (NYSE:CTS) last issued its quarterly earnings results on Thursday, July 24th. The electronics maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. CTS had a return on equity of 12.31% and a net margin of 12.32%.The firm had revenue of $135.30 million for the quarter, compared to analysts’ expectations of $132.65 million. During the same period in the previous year, the firm posted $0.54 EPS. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. Equities research analysts anticipate that CTS will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, September 26th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. CTS’s payout ratio is currently 7.55%.

Institutional Investors Weigh In On CTS

A number of hedge funds have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC raised its stake in CTS by 2.1% during the 1st quarter. GW&K Investment Management LLC now owns 303,200 shares of the electronics maker’s stock valued at $12,598,000 after buying an additional 6,107 shares during the last quarter. Principal Financial Group Inc. raised its stake in CTS by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 158,729 shares of the electronics maker’s stock valued at $6,595,000 after buying an additional 3,711 shares during the last quarter. Public Sector Pension Investment Board raised its stake in CTS by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 95,549 shares of the electronics maker’s stock valued at $3,970,000 after buying an additional 20,468 shares during the last quarter. Rhumbline Advisers raised its stake in CTS by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 89,595 shares of the electronics maker’s stock valued at $3,818,000 after buying an additional 2,577 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in CTS during the 1st quarter valued at $3,655,000. 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.