Wall Street Zen Downgrades CTS (NYSE:CTS) to Hold

CTS (NYSE:CTS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts have also recently issued reports on CTS. Zacks Research cut CTS from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings downgraded CTS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Lake Street Capital started coverage on shares of CTS in a report on Wednesday, September 2nd. They set a “buy” rating and a $67.00 price objective for the company. Finally, Barrington Research began coverage on shares of CTS in a research report on Thursday, September 10th. They set an “outperform” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CTS has a consensus rating of “Moderate Buy” and a consensus price target of $73.50.

CTS Price Performance

Shares of NYSE:CTS opened at $58.31 on Friday. The company has a market capitalization of $1.67 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.37 and a beta of 1.03. CTS has a 1-year low of $36.03 and a 1-year high of $69.55. The firm’s 50 day simple moving average is $59.94 and its two-hundred day simple moving average is $58.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.61 and a quick ratio of 2.07.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.13. CTS had a net margin of 12.37% and a return on equity of 13.48%. The firm had revenue of $144.78 million during the quarter, compared to analysts’ expectations of $143.43 million. During the same period in the prior year, the company posted $0.62 earnings per share. CTS has set its FY 2026 guidance at 2.550-2.700 EPS. Research analysts expect that CTS will post 2.66 EPS for the current fiscal year.

Institutional Trading of CTS

Several hedge funds have recently made changes to their positions in CTS. Old West Investment Management LLC bought a new position in shares of CTS during the 2nd quarter valued at approximately $2,204,000. BlackRock Inc. bought a new stake in CTS in the second quarter worth $293,472,000. Madison Asset Management LLC bought a new stake in CTS in the second quarter worth $3,502,000. Deutsche Bank AG purchased a new position in CTS during the second quarter worth $2,374,000. Finally, 1ST Source Bank purchased a new position in CTS during the second quarter worth $1,185,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

About CTS

CTS Corporation (NYSE: CTS) designs and manufactures sensors, actuators, electronic components and assemblies used in a range of industrial and commercial applications. Its products include pressure, temperature and position sensors; piezoelectric and other actuators; switches; electronic controls; frequency-control products; and custom-engineered assemblies.

The company serves customers in the transportation, aerospace and defense, industrial, medical and communications markets. CTS products are used in applications such as vehicle systems, industrial automation, medical equipment, aerospace systems and other products that require sensing, control, switching or electronic connectivity.

CTS traces its history to 1896, when it was established as Chicago Telephone Supply.