CTS (NYSE:CTS) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

CTS Corporation (NYSE:CTS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $41.63 and traded as high as $44.78. CTS shares last traded at $44.5380, with a volume of 311,371 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CTS in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of CTS from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 4th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

CTS Price Performance

The company has a quick ratio of 2.12, a current ratio of 2.64 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.29 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93. The firm’s 50 day simple moving average is $41.81 and its 200 day simple moving average is $41.63.

CTS (NYSE:CTS) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). CTS had a return on equity of 11.92% and a net margin of 11.14%.The firm had revenue of $142.97 million during the quarter, compared to the consensus estimate of $136.40 million. CTS has set its FY 2025 guidance at 2.200-2.250 EPS. As a group, research analysts anticipate that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, December 26th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.16 annualized dividend and a yield of 0.4%. CTS’s dividend payout ratio (DPR) is presently 8.12%.

CTS declared that its Board of Directors has initiated a stock buyback plan on Friday, November 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 8.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On CTS

Several hedge funds and other institutional investors have recently modified their holdings of the business. Aristides Capital LLC lifted its stake in shares of CTS by 7.8% during the 1st quarter. Aristides Capital LLC now owns 6,255 shares of the electronics maker’s stock worth $260,000 after acquiring an additional 450 shares during the last quarter. Russell Investments Group Ltd. increased its stake in CTS by 2.6% in the first quarter. Russell Investments Group Ltd. now owns 21,199 shares of the electronics maker’s stock worth $881,000 after purchasing an additional 544 shares during the period. Royal Bank of Canada increased its stake in CTS by 11.2% in the first quarter. Royal Bank of Canada now owns 7,036 shares of the electronics maker’s stock worth $292,000 after purchasing an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CTS by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,904 shares of the electronics maker’s stock worth $744,000 after purchasing an additional 785 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of CTS by 12.1% during the second quarter. Captrust Financial Advisors now owns 8,113 shares of the electronics maker’s stock valued at $346,000 after purchasing an additional 876 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.