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

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

CTS Trading Up 0.7 %

Shares of CTS stock opened at $50.63 on Thursday. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $54.73. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 29.78 and a beta of 0.60. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $50.83 and a 200-day simple moving average of $46.29.

CTS (NYSE:CTS) last announced its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. During the same period in the prior year, the business posted $0.61 earnings per share. CTS’s revenue was down 13.9% compared to the same quarter last year. On average, equities analysts forecast that CTS will post 2.25 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at $6,014,919. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Ashish Agrawal sold 800 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at approximately $6,014,919. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the completion of the sale, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The disclosure for this sale can be found here. Insiders sold a total of 48,855 shares of company stock valued at $2,330,290 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On CTS

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG increased its position in CTS by 18.7% in the 3rd quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock worth $674,000 after purchasing an additional 2,541 shares during the last quarter. PNC Financial Services Group Inc. increased its position in CTS by 8.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock worth $383,000 after purchasing an additional 720 shares during the last quarter. Envestnet Asset Management Inc. increased its position in CTS by 181.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 216,035 shares of the electronics maker’s stock worth $9,017,000 after purchasing an additional 139,269 shares during the last quarter. Natixis Advisors L.P. increased its position in CTS by 6.8% in the 3rd quarter. Natixis Advisors L.P. now owns 17,969 shares of the electronics maker’s stock worth $750,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in CTS by 339.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 13,876 shares of the electronics maker’s stock worth $579,000 after purchasing an additional 10,718 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Company Profile

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.