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

Wall Street Zen upgraded shares of CTS (NYSE:CTS - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday.

CTS Trading Up 2.8%

CTS traded up $1.13 during trading on Thursday, reaching $40.80. The company had a trading volume of 54,921 shares, compared to its average volume of 172,007. The firm's 50-day simple moving average is $39.80 and its 200 day simple moving average is $46.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 21.47 and a beta of 0.76. CTS has a 12-month low of $34.02 and a 12-month high of $59.68.

CTS (NYSE:CTS - Get Free Report) last released its 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 return on equity of 12.67% and a net margin of 11.27%. The firm had revenue of $125.77 million during the quarter, compared to analysts' expectations of $128.72 million. Equities research analysts anticipate that CTS will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio (DPR) is currently 8.08%.

Institutional Trading of CTS

Hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its stake in CTS by 3.4% in the 4th 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. increased its holdings in shares of CTS by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker's stock valued at $20,707,000 after purchasing an additional 7,088 shares during the period. Northern Trust Corp lifted its position in shares of CTS by 10.4% in the fourth 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 boosted its holdings in shares of CTS by 2.1% during the first 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 during the period. Finally, Raymond James Financial Inc. purchased a new position in CTS during the fourth quarter valued at approximately $15,852,000. Institutional investors and hedge funds own 96.87% of the company's stock.

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.