CTS Corp. (CTS) Cut to “Neutral” at Sidoti
CTS Corp. (NYSE:CTS) was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Monday. They currently have a $23.00 target price on the stock. Sidoti’s target price suggests a potential upside of 2.22% from the company’s previous close.
Several other equities analysts also recently commented on CTS. B. Riley began coverage on shares of CTS Corp. in a research note on Tuesday, November 15th. They set a “buy” rating and a $22.00 price objective for the company. TheStreet downgraded shares of CTS Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th.
CTS Corp. (NYSE:CTS) opened at 22.50 on Monday. The company has a market cap of $737.10 million, a PE ratio of 59.21 and a beta of 1.22. The company has a 50-day moving average of $18.87 and a 200 day moving average of $18.59. CTS Corp. has a 12 month low of $12.87 and a 12 month high of $22.80.
CTS Corp. (NYSE:CTS) last posted its quarterly earnings results on Friday, October 28th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The business earned $99.70 million during the quarter, compared to the consensus estimate of $97.54 million. CTS Corp. had a net margin of 3.20% and a return on equity of 11.19%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that CTS Corp. will post $1.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, December 23rd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, December 21st. CTS Corp.’s dividend payout ratio (DPR) is 43.24%.
Several institutional investors have recently made changes to their positions in CTS. Ameriprise Financial Inc. boosted its position in shares of CTS Corp. by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 159,505 shares of the company’s stock valued at $2,858,000 after buying an additional 7,189 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CTS Corp. by 3.3% in the second quarter. Principal Financial Group Inc. now owns 231,330 shares of the company’s stock valued at $4,145,000 after buying an additional 7,428 shares in the last quarter. Mason Street Advisors LLC bought a new position in shares of CTS Corp. during the second quarter valued at about $115,000. Emerald Acquisition Ltd. bought a new position in shares of CTS Corp. during the second quarter valued at about $2,807,000. Finally, Swiss National Bank boosted its position in shares of CTS Corp. by 5.1% in the second quarter. Swiss National Bank now owns 51,200 shares of the company’s stock valued at $918,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.
About CTS Corp.
CTS Corporation (CTS) is a global manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the automotive, communications, defense and aerospace, medical, industrial and computer markets.
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