CTS (NYSE:CTS) Upgraded by StockNews.com to Buy Rating

CTS (NYSE:CTS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

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

CTS Trading Down 0.3 %

NYSE CTS opened at $51.09 on Friday. CTS has a 12 month low of $40.96 and a 12 month high of $59.68. 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’s 50-day moving average is $53.21 and its two-hundred day moving average is $50.70. The stock has a market capitalization of $1.54 billion, a P/E ratio of 26.34 and a beta of 0.60.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same period in the prior year, the company posted $0.54 EPS. On average, sell-side analysts anticipate that CTS will post 2.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kieran M. O’sullivan sold 31,978 shares of CTS stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.81, for a total value of $1,784,692.18. Following the sale, the chief executive officer now directly owns 423,665 shares in the company, valued at $23,644,743.65. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 59,956 shares of company stock worth $3,331,185 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTS. Sei Investments Co. purchased a new stake in shares of CTS in the second quarter valued at $263,000. Bank of Montreal Can grew 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 valued at $480,000 after purchasing an additional 3,200 shares during the last quarter. AQR Capital Management LLC raised 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 acquiring an additional 308 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of CTS by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock worth $778,000 after purchasing an additional 444 shares during the period. Finally, Creative Planning lifted its holdings in shares of 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. 96.87% of the stock is currently owned by institutional investors.

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.