Today: CTS Corp. (CTS) Decreased to Neutral at Sidoti

Today: CTS Corp. (CTS) Decreased to Neutral at Sidoti

CTS Corp. (NYSE:CTS) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report released on Monday. They currently have a $23.00 price objective on the stock. Sidoti’s price objective indicates a potential upside of 2.22% from the stock’s current price.

A number of other research firms have also recently commented on CTS. B. Riley initiated coverage on CTS Corp. in a research report on Wednesday, November 9th. They set a “buy” rating and a $22.00 price objective for the company. TheStreet cut CTS Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 28th.

Shares of CTS Corp. (NYSE:CTS) opened at 22.50 on Monday. The stock’s 50 day moving average price is $18.87 and its 200-day moving average price is $18.59. The company has a market cap of $737.10 million, a P/E 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 posted its quarterly earnings data on Friday, October 28th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company earned $99.70 million during the quarter, compared to analysts’ expectations of $97.54 million. CTS Corp. had a return on equity of 11.19% and a net margin of 3.20%. CTS Corp.’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities research analysts expect that CTS Corp. will post $1.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, December 23rd will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, December 21st. CTS Corp.’s payout ratio is 43.24%.

Hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of CTS Corp. by 7.4% in the third quarter. BlackRock Fund Advisors now owns 2,330,255 shares of the company’s stock worth $43,343,000 after buying an additional 160,117 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CTS Corp. by 0.5% in the second quarter. Vanguard Group Inc. now owns 1,608,963 shares of the company’s stock worth $28,833,000 after buying an additional 8,221 shares during the last quarter. Northern Trust Corp boosted its stake in shares of CTS Corp. by 3.7% in the third quarter. Northern Trust Corp now owns 1,535,977 shares of the company’s stock worth $28,568,000 after buying an additional 55,149 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of CTS Corp. by 4.5% in the second quarter. Brown Advisory Inc. now owns 1,523,527 shares of the company’s stock worth $27,301,000 after buying an additional 65,714 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of CTS Corp. by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 839,184 shares of the company’s stock worth $15,609,000 after buying an additional 3,625 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

About CTS Corp.

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