Analysts Set $31.00 Target Price for CTS Co. (NYSE:CTS)

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CTS Co. (NYSE:CTS) has been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokers have set a 12 month consensus price objective of $31.00 for the company, according to Zacks. Zacks has also assigned CTS an industry rank of 109 out of 256 based on the ratings given to related companies.

Several equities research analysts have weighed in on CTS shares. Cowen started coverage on shares of Littelfuse in a report on Tuesday, May 21st. They issued an “outperform” rating and a $210.00 target price on the stock. Gabelli reiterated a “hold” rating on shares of Rockwell Automation in a report on Friday, April 26th. Finally, ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th.

A number of institutional investors and hedge funds have recently bought and sold shares of CTS. Covenant Multifamily Offices LLC acquired a new stake in CTS in the first quarter worth $26,000. Investors Research Corp acquired a new stake in shares of CTS during the first quarter worth $32,000. Quantamental Technologies LLC acquired a new stake in shares of CTS during the first quarter worth $56,000. BNP Paribas Arbitrage SA raised its holdings in shares of CTS by 288.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,809 shares of the electronics maker’s stock worth $200,000 after acquiring an additional 5,054 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of CTS during the first quarter worth $220,000. Institutional investors own 94.29% of the company’s stock.

CTS stock traded down $0.03 during midday trading on Wednesday, reaching $27.57. The company’s stock had a trading volume of 731 shares, compared to its average volume of 144,768. CTS has a 52 week low of $24.07 and a 52 week high of $38.00. The stock has a market capitalization of $906.81 million, a PE ratio of 18.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.05 and a current ratio of 2.48. The stock’s 50-day moving average price is $27.57.

CTS (NYSE:CTS) last announced its quarterly earnings data on Thursday, April 25th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $117.60 million for the quarter, compared to analysts’ expectations of $115.90 million. CTS had a net margin of 9.78% and a return on equity of 14.21%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. Analysts predict that CTS will post 1.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 21st will be issued a $0.04 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.16 annualized dividend and a yield of 0.58%. CTS’s dividend payout ratio (DPR) is presently 10.46%.

About CTS

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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