StockNews.com Upgrades CTS (NYSE:CTS) to “Buy”

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

CTS Stock Performance

NYSE:CTS traded down $1.98 during trading hours on Monday, reaching $42.68. 148,738 shares of the company’s stock were exchanged, compared to its average volume of 141,576. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 22.46 and a beta of 0.59. CTS has a 1-year low of $42.48 and a 1-year high of $59.68. The company has a 50-day moving average of $49.47 and a 200 day moving average of $50.25.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Research analysts anticipate that CTS will post 2.28 EPS for the current year.

Insider Activity at CTS

In related news, CEO Kieran M. O’sullivan sold 8,494 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $54.50, for a total value of $462,923.00. Following the completion of the sale, the chief executive officer now owns 382,333 shares in the company, valued at $20,837,148.50. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 27,978 shares of company stock worth $1,546,493 in the last three months. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On CTS

Large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of CTS by 11.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,154 shares of the electronics maker’s stock valued at $3,330,000 after buying an additional 6,269 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in CTS by 11.4% in the fourth quarter. Two Sigma Advisers LP now owns 7,800 shares of the electronics maker’s stock valued at $411,000 after acquiring an additional 800 shares during the period. ProShare Advisors LLC boosted its position in shares of CTS by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 9,072 shares of the electronics maker’s stock worth $478,000 after purchasing an additional 2,786 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CTS by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker’s stock worth $903,000 after purchasing an additional 651 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of CTS by 111.4% in the 4th quarter. Lazard Asset Management LLC now owns 35,055 shares of the electronics maker’s stock valued at $1,848,000 after purchasing an additional 18,473 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Company Profile

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.