CTS (NYSE:CTS) Raised to Buy at Wall Street Zen

CTS (NYSE:CTS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

CTS Stock Down 2.2%

CTS traded down $0.92 during midday trading on Friday, hitting $41.88. The company had a trading volume of 157,362 shares, compared to its average volume of 161,306. CTS has a 52 week low of $34.02 and a 52 week high of $59.68. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.15 and a beta of 0.80. The stock's 50 day moving average price is $41.93 and its 200 day moving average price is $43.82.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). CTS had a net margin of 11.70% and a return on equity of 12.32%. The company had revenue of $125.77 million during the quarter, compared to the consensus estimate of $128.72 million. On average, research analysts anticipate that CTS will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CTS

Several hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its position in shares of CTS by 3.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock worth $116,956,000 after acquiring an additional 73,435 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CTS by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker's stock worth $20,707,000 after purchasing an additional 7,088 shares in the last quarter. Northern Trust Corp grew its position in CTS by 10.4% in the 4th quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker's stock worth $17,872,000 after purchasing an additional 31,803 shares in the last quarter. GW&K Investment Management LLC grew its position in CTS by 2.1% in the 1st quarter. GW&K Investment Management LLC now owns 303,200 shares of the electronics maker's stock worth $12,598,000 after purchasing an additional 6,107 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in CTS in the 4th quarter worth about $15,852,000. 96.87% of the stock is 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.