CTS Corp. (NYSE:CTS) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Monday. They presently have a $23.00 price objective on the stock. Sidoti’s price target indicates a potential upside of 2.22% from the company’s previous close.
CTS has been the subject of a number of other reports. B. Riley assumed coverage on shares of CTS Corp. in a research note on Tuesday, November 15th. They issued a “buy” rating and a $22.00 price objective for the company. TheStreet cut shares of CTS Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th.
CTS Corp. (NYSE:CTS) opened at 22.50 on Monday. The company’s 50 day moving average is $18.87 and its 200 day moving average is $18.59. The stock has a market cap of $737.10 million, a PE ratio of 59.21 and a beta of 1.22. CTS Corp. has a 12 month low of $12.87 and a 12 month high of $22.80.
CTS Corp. (NYSE:CTS) last issued its quarterly earnings data on Friday, October 28th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. CTS Corp. had a net margin of 3.20% and a return on equity of 11.19%. The business earned $99.70 million during the quarter, compared to analysts’ expectations of $97.54 million. During the same period last year, the company posted $0.23 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, analysts anticipate that CTS Corp. will post $1.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, December 23rd will be issued a $0.04 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.71%. CTS Corp.’s dividend payout ratio (DPR) is presently 43.24%.
Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in CTS Corp. during the third quarter valued at about $101,000. Mason Street Advisors LLC purchased a new stake in CTS Corp. during the second quarter valued at about $115,000. Municipal Employees Retirement System of Michigan raised its stake in CTS Corp. by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,270 shares of the company’s stock valued at $135,000 after buying an additional 120 shares during the period. Acrospire Investment Management LLC raised its stake in CTS Corp. by 197.6% in the second quarter. Acrospire Investment Management LLC now owns 7,831 shares of the company’s stock valued at $140,000 after buying an additional 5,200 shares during the period. Finally, BlackRock Inc. raised its stake in CTS Corp. by 261.1% in the second quarter. BlackRock Inc. now owns 9,352 shares of the company’s stock valued at $168,000 after buying an additional 6,762 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.
About CTS Corp.