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 report issued on Saturday.

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

CTS Stock Down 0.3 %

Shares of CTS opened at $51.09 on Friday. The business’s fifty day moving average price is $53.21 and its two-hundred day moving average price is $50.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 26.34 and a beta of 0.60. CTS has a 52 week low of $40.96 and a 52 week high of $59.68.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $132.42 million during the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same period last year, the company earned $0.54 earnings per share. On average, analysts predict that CTS will post 2.15 earnings per share for the current year.

Insider Activity at CTS

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of CTS stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total value of $710,067.00. Following the transaction, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at $22,225,308. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 59,956 shares of company stock valued at $3,331,185 over the last three months. 2.00% of the stock is owned by insiders.

Institutional Trading of CTS

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of CTS during the second quarter worth approximately $263,000. Bank of Montreal Can boosted its holdings in CTS by 51.5% during the second quarter. Bank of Montreal Can now owns 9,417 shares of the electronics maker’s stock worth $480,000 after purchasing an additional 3,200 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of CTS by 5.8% in the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock valued at $285,000 after acquiring an additional 308 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in CTS by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock valued at $778,000 after purchasing an additional 444 shares during the period. Finally, Creative Planning increased its holdings in CTS by 27.6% during the second quarter. Creative Planning now owns 13,170 shares of the electronics maker’s stock worth $667,000 after buying an additional 2,852 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

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.