StockNews.com Upgrades CTS (NYSE:CTS) to “Buy”

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

Separately, Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Trading Up 0.5 %

NYSE:CTS opened at $51.66 on Thursday. CTS has a one year low of $40.27 and a one year high of $59.68. The company has a market cap of $1.56 billion, a PE ratio of 26.63 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The firm has a 50-day moving average of $53.76 and a 200-day moving average of $50.60.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The firm had revenue of $132.42 million during the quarter. During the same period last year, the company earned $0.54 earnings per share. As a group, equities research analysts expect that CTS will post 2.15 EPS for the current fiscal year.

Insider Activity at CTS

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were 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 approximately $22,225,308. The trade was a 3.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 59,956 shares of company stock valued at $3,331,185. 2.30% of the stock is owned by insiders.

Institutional Trading of CTS

Hedge funds have recently added to or reduced their stakes in the stock. Trust Point Inc. increased its stake in shares of CTS by 2.1% in the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock worth $622,000 after purchasing an additional 270 shares in the last quarter. AQR Capital Management LLC boosted its holdings in CTS by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after buying an additional 308 shares during the period. GAMMA Investing LLC grew its stake in CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after buying an additional 334 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in CTS by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock valued at $778,000 after acquiring an additional 444 shares during the period. Finally, Raymond James Trust N.A. lifted its position in shares of CTS by 13.6% during the third quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock worth $270,000 after acquiring an additional 669 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

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.