CTS (NYSE:CTS) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of CTS (NYSE:CTS) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

CTS has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CTS in a research report on Wednesday, January 21st. Wall Street Zen raised shares of CTS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, CTS currently has an average rating of “Buy”.

CTS Price Performance

Shares of NYSE CTS opened at $59.89 on Wednesday. CTS has a fifty-two week low of $36.03 and a fifty-two week high of $62.02. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.98 and a current ratio of 2.52. The firm’s 50-day simple moving average is $53.25 and its 200 day simple moving average is $49.36.

CTS (NYSE:CTS) last announced its quarterly earnings results on Wednesday, April 29th. The electronics maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.10. CTS had a net margin of 12.46% and a return on equity of 12.90%. The business had revenue of $139.23 million for the quarter, compared to analysts’ expectations of $136.83 million. CTS has set its FY 2026 guidance at 2.350-2.450 EPS. As a group, research analysts anticipate that CTS will post 2.43 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, June 26th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. CTS’s dividend payout ratio (DPR) is currently 6.84%.

Hedge Funds Weigh In On CTS

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of CTS by 308.5% during the 1st quarter. Parallel Advisors LLC now owns 1,401 shares of the electronics maker’s stock worth $67,000 after buying an additional 1,058 shares in the last quarter. Royal Bank of Canada increased its holdings in CTS by 11.2% during the first quarter. Royal Bank of Canada now owns 7,036 shares of the electronics maker’s stock worth $292,000 after buying an additional 710 shares during the last quarter. Entropy Technologies LP purchased a new stake in CTS during the third quarter worth about $341,000. Captrust Financial Advisors increased its holdings in CTS by 12.1% during the second quarter. Captrust Financial Advisors now owns 8,113 shares of the electronics maker’s stock worth $346,000 after buying an additional 876 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in CTS by 19.4% during the first quarter. AQR Capital Management LLC now owns 9,576 shares of the electronics maker’s stock worth $398,000 after buying an additional 1,558 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

About CTS

CTS Corporation (NYSE:CTS) is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company’s core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.