Zacks Investment Research Upgrades CTS (NYSE:CTS) to “Buy”

Zacks Investment Research upgraded shares of CTS (NYSE:CTSGet Rating) from a hold rating to a buy rating in a report published on Monday, reports. The brokerage currently has $42.00 price target on the electronics maker’s stock.

According to Zacks, “CTS Corporation is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components and supplies these products to OEMs in the aerospace, communications, defense, industrial, information technology, medical and transportation markets. CTS focus on providing advanced technology, exceptional customer service and superior value to industry partners throughout the globe. CTS aims to be at the forefront of technology, delivering innovative sensing, connectivity and motion solutions for the creation and advancement of products and services around the world. CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, as well as the provision of electronics manufacturing services worldwide. It operates in two segments, Electronics Manufacturing Services, and Components and Sensors. “

A number of other equities analysts have also recently commented on the company. TheStreet cut CTS from a b- rating to a c rating in a report on Tuesday, April 26th. Sidoti raised CTS from a neutral rating to a buy rating and set a $40.00 target price for the company in a report on Monday, January 31st. Finally, raised CTS from a buy rating to a strong-buy rating in a report on Friday, May 6th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CTS currently has an average rating of Buy and a consensus target price of $32.25.

NYSE CTS opened at $39.33 on Monday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -38.18 and a beta of 0.67. CTS has a twelve month low of $28.72 and a twelve month high of $40.03. The company has a current ratio of 2.54, a quick ratio of 2.08 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $35.76 and a 200 day moving average of $35.59.

CTS (NYSE:CTSGet Rating) last released its quarterly earnings results on Thursday, April 28th. The electronics maker reported $0.67 earnings per share for the quarter. The company had revenue of $147.70 million during the quarter, compared to analysts’ expectations of $134.15 million. CTS had a positive return on equity of 14.93% and a negative net margin of 6.32%. CTS’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities analysts predict that CTS will post 2.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, June 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.41%. CTS’s dividend payout ratio is presently -15.53%.

In related news, Director Ye Jane Li sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $36.39, for a total value of $145,560.00. Following the completion of the sale, the director now owns 7,800 shares of the company’s stock, valued at $283,842. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.22% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CTS. BlackRock Inc. grew its position in CTS by 2.2% in the fourth quarter. BlackRock Inc. now owns 5,173,881 shares of the electronics maker’s stock worth $189,983,000 after acquiring an additional 113,504 shares during the period. Vanguard Group Inc. grew its position in CTS by 2.4% in the first quarter. Vanguard Group Inc. now owns 2,203,937 shares of the electronics maker’s stock worth $77,887,000 after acquiring an additional 51,223 shares during the period. Dimensional Fund Advisors LP grew its position in CTS by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,567,772 shares of the electronics maker’s stock worth $48,461,000 after acquiring an additional 25,153 shares during the period. Goldman Sachs Group Inc. grew its position in CTS by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,521,723 shares of the electronics maker’s stock worth $55,877,000 after acquiring an additional 51,319 shares during the period. Finally, Brown Advisory Inc. grew its position in CTS by 17.8% in the first quarter. Brown Advisory Inc. now owns 1,251,941 shares of the electronics maker’s stock worth $44,287,000 after acquiring an additional 189,036 shares during the period. 91.02% of the stock is 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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