CTS (NYSE:CTS – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $2.40-$2.55 for the period, compared to the consensus EPS estimate of $2.50. The company issued revenue guidance of $570.00 million-$600.00 million, compared to the consensus revenue estimate of $583.13 million.
Analyst Ratings Changes
A number of research firms have recently weighed in on CTS. Sidoti upgraded CTS from a neutral rating to a buy rating and set a $43.00 target price on the stock in a report on Wednesday, July 13th. Cowen increased their target price on shares of CTS to $38.00 and gave the company an outperform rating in a report on Wednesday, July 27th. StockNews.com lowered shares of CTS from a strong-buy rating to a buy rating in a research report on Tuesday. TheStreet lowered shares of CTS from a b rating to a c rating in a research note on Wednesday, June 22nd. Finally, Stephens boosted their target price on CTS to $41.00 and gave the stock an outperform rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $33.80.
CTS Price Performance
NYSE:CTS traded up $0.08 during mid-day trading on Friday, hitting $40.83. 130,137 shares of the stock traded hands, compared to its average volume of 133,517. CTS has a 12-month low of $28.72 and a 12-month high of $41.77. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.30 billion, a PE ratio of -60.94 and a beta of 0.80. The business’s 50-day moving average price is $36.76 and its 200 day moving average price is $35.76.
CTS Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, June 17th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.39%. CTS’s payout ratio is -23.88%.
In other CTS news, Director Ye Jane Li sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $36.39, for a total value of $145,560.00. Following the sale, the director now owns 7,800 shares of the company’s stock, valued at approximately $283,842. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in CTS. Bank of America Corp DE boosted its position in CTS by 17.4% during the 1st quarter. Bank of America Corp DE now owns 253,104 shares of the electronics maker’s stock valued at $8,945,000 after acquiring an additional 37,583 shares in the last quarter. Captrust Financial Advisors lifted its position in CTS by 223.1% during the first quarter. Captrust Financial Advisors now owns 11,161 shares of the electronics maker’s stock valued at $395,000 after buying an additional 7,707 shares during the period. State Street Corp grew its position in shares of CTS by 2.4% in the 1st quarter. State Street Corp now owns 1,076,650 shares of the electronics maker’s stock worth $38,091,000 after buying an additional 25,471 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of CTS in the 1st quarter worth about $214,000. Finally, Hsbc Holdings PLC lifted its position in CTS by 65.2% during the 1st quarter. Hsbc Holdings PLC now owns 9,115 shares of the electronics maker’s stock valued at $321,000 after acquiring an additional 3,597 shares during the period. 91.02% 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 sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.
- Get a free copy of the StockNews.com research report on CTS (CTS)
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