CTS (NYSE:CTS) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of CTS (NYSE:CTS) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $67.00 target price on the electronics maker’s stock.

CTS has been the topic of several other reports. Weiss Ratings downgraded CTS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Wall Street Zen cut CTS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded CTS from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.00.

CTS Stock Performance

CTS opened at $57.11 on Wednesday. The company’s 50 day moving average is $60.82 and its 200 day moving average is $58.02. The company has a current ratio of 2.61, a quick ratio of 2.07 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.30 and a beta of 1.03. CTS has a 12-month low of $36.03 and a 12-month high of $69.55.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. The business had revenue of $144.78 million during the quarter, compared to analysts’ expectations of $143.43 million. CTS had a net margin of 12.37% and a return on equity of 13.48%. During the same period in the prior year, the company earned $0.62 earnings per share. CTS has set its FY 2026 guidance at 2.550-2.700 EPS. On average, equities research analysts predict that CTS will post 2.72 EPS for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, September 25th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 25th. CTS’s dividend payout ratio is presently 6.72%.

Hedge Funds Weigh In On CTS

Several large investors have recently made changes to their positions in CTS. BlackRock Inc. bought a new position in CTS in the 2nd quarter worth approximately $293,472,000. California State Teachers Retirement System raised its position in shares of CTS by 7,474.1% during the second quarter. California State Teachers Retirement System now owns 2,001,072 shares of the electronics maker’s stock valued at $130,450,000 after buying an additional 1,974,652 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of CTS in the second quarter worth $14,716,000. Jupiter Topco LLC purchased a new position in shares of CTS in the second quarter worth $11,762,000. Finally, Bank of America Corp DE purchased a new position in shares of CTS in the second quarter worth $9,746,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Company Profile

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.