CTS (NYSE:CTS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

CTS Corporation (NYSE:CTS)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $57.60 and traded as high as $58.57. CTS shares last traded at $57.9550, with a volume of 267,914 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTS. Wall Street Zen raised shares of CTS from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Weiss Ratings raised CTS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Barrington Research assumed coverage on shares of CTS in a research report on Thursday, September 10th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Lake Street Capital assumed coverage on shares of CTS in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $67.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

CTS Stock Up 1.9%

The firm has a 50-day simple moving average of $57.97 and a 200 day simple moving average of $57.60. The stock has a market capitalization of $1.65 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.59 and a quick ratio of 2.10.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.12. CTS had a return on equity of 14.05% and a net margin of 12.94%. The company had revenue of $149.58 million during the quarter, compared to analysts’ expectations of $145.95 million. On average, equities research analysts forecast that CTS Corporation will post 2.80 EPS for the current year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 22nd. Investors of record on Thursday, December 24th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $0.16 annualized dividend and a yield of 0.3%. CTS’s dividend payout ratio (DPR) is presently 6.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in CTS during the second quarter valued at about $293,472,000. Bank of New York Mellon Corp purchased a new position in shares of CTS during the second quarter worth approximately $14,716,000. Jupiter Topco LLC purchased a new stake in shares of CTS in the 2nd quarter valued at $11,762,000. Bank of America Corp DE purchased a new stake in CTS during the second quarter valued at about $9,746,000. Finally, Heartland Advisors Inc. purchased a new position in shares of CTS in the second quarter worth about $7,034,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

About CTS

CTS Corporation (NYSE: CTS) is a designer and manufacturer of sensors, actuators, and electronic components for original equipment manufacturers and industrial customers. The company develops custom-engineered solutions that help measure, control, and manage electrical and mechanical functions in a range of products and systems.

Its offerings include position, pressure, temperature, and motion sensors; piezoelectric and electronic components; switches, controls, and actuators; and other sensing and mechatronic products.