CTS (NYSE:CTS) upgraded to buy at Zacks Investment Research

CTS (NYSE: CTS – Get a Grade) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Friday, Zacks.com reports. The brokerage currently has a target price of $40.00 on the electronics maker’s stock. Zacks Investment Research’s target price would indicate a potential upside of 15.37% from the company’s current price.

According to Zacks, “CTS Corporation is a leading designer and manufacturer of products that sense, connect and move. CTS manufactures sensors, actuators and electronic components and supplies these products to OEMs in the aerospace, communications, , defense, industrial, information technology, medical and transportation.CTS is focused on delivering cutting-edge technology, exceptional customer service and superior value. to industry partners worldwide.CTS aims to be at the forefront of technology, providing innovative sensing, connectivity and motion solutions for the creation and advancement of products and services worldwide CTS Corporation is engaged in the design, manufacture, assembly and sales of electronic components and sensors, as well as the provision of electronic manufacturing services in the whole world. It operates in two segments, Electronic Manufacturing Services and Components and Sensors. “

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“There are not enough semiconductor chips in the world to meet the growing demand. But due to the global chip shortage…

These four companies are well positioned to take advantage of this rapidly growing demand over the next 12 months and beyond. ”

A number of other analysts also weighed in on the stock. lowered its price target on CTS shares from $14.00 to $13.00 and set a “buy” rating for the company in a Friday, November 12 report. StockNews.com downgraded CTS shares from a “strong buy” rating to a “buy” rating in a report on Monday. Finally, Sidoti upgraded CTS shares from a “neutral” rating to a “buy” rating and set a price target of $40.00 for the company in a Monday, January 31 report. One analyst rated the stock with a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $31.75.

Shares of NYSE:CTS traded down $0.61 in Friday’s midday session, hitting $34.67. The company’s stock had a trading volume of 90,142 shares, compared to an average trading volume of 120,068. The stock has a market capitalization of $1.11 billion, a price-earnings ratio of -26.88 and a beta of 0.73. The stock’s 50-day simple moving average is $35.02 and its 200-day simple moving average is $34.72. CTS has a fifty-two week low of $28.72 and a fifty-two week high of $39.49. The company has a debt ratio of 0.11, a quick ratio of 2.10 and a current ratio of 2.53.

CTS (NYSE:CTS – Get Rating) last released its results on Monday, February 7. The electronics maker reported earnings per share of $0.49 for the quarter, beating analysts’ consensus estimate of $0.47 by $0.02. CTS had a positive return on equity of 13.80% and a negative net margin of 8.16%. The company posted revenue of $132.53 million for the quarter, versus a consensus estimate of $123.08 million. In the same period last year, the company earned $0.43 per share. The company’s revenue for the quarter increased 7.7% compared to the same quarter last year. As a group, analysts expect CTS to post EPS of 2.1 for the current year.

Several hedge funds have recently changed their holdings in the company. BlackRock Inc. increased its holdings of CTS shares by 2.2% in Q4. BlackRock Inc. now owns 5,173,881 shares of the electronics maker valued at $189,983,000 after purchasing an additional 113,504 shares during the period. Dimensional Fund Advisors LP increased its stake in CTS by 1.6% in Q3. Dimensional Fund Advisors LP now owns 1,567,772 shares of the electronics maker valued at $48,461,000 after buying 25,153 additional shares in the last quarter. Goldman Sachs Group Inc. increased its stake in CTS by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,521,723 shares of the electronics maker valued at $55,877,000 after buying an additional 51,319 shares in the last quarter. Brown Advisory Inc. increased its stake in CTS by 19.3% in the 4th quarter. Brown Advisory Inc. now owns 1,062,905 shares of the electronics maker valued at $39,030,000 after buying an additional 172,060 shares in the last quarter. Finally, State Street Corp increased its stake in CTS by 4.1% in the 2nd quarter. State Street Corp now owns 1,053,200 shares of the electronics maker valued at $39,179,000 after buying an additional 41,235 shares in the last quarter. 90.03% of the shares are currently held by institutional investors.

CTS Company Profile (Get an assessment)

CTS Corp. engages in the design and manufacture of sensors, connectivity components and actuators. Its products include controls, foot pedals, piezo sensing products, sensors, switches, transducers, electromagnetic and radio frequency interference filters, capacitors, frequency control, resistors, piezoelectric microactuators and microactuators. rotating.

Further reading

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