CTS Corporation [CTS] Stock trading around $44.73 per share: What’s Next?

CTS Corporation [NYSE: CTS] loss -1.21% or -0.55 points to close at $44.73 with a heavy trading volume of 84922 shares. The company report on March 15, 2023 that Converge Technology Solutions Reports Record Q4 and FY2022.

Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF) is pleased to provide its financial results for the full fiscal year (“FY22”) and three-month periods ended December 31, 2022 (“Q4-22”).  All figures are in Canadian dollars unless otherwise stated.

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It opened the trading session at $45.42, the shares rose to $45.82 and dropped to $44.63, the range by which the price of stock traded the whole day. The daily chart for CTS points out that the company has recorded 1.18% gains over the past six months. However, it is still -40.22% lower than its most recent low trading price.

If we look at the average trading volume of 178.10K shares, CTS reached to a volume of 84922 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CTS Corporation [CTS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTS shares is $46.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTS stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for CTS Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 22, 2022. The new note on the price target was released on July 13, 2022, representing the official price target for CTS Corporation stock. Previously, the target price had yet another raise to $43, while Sidoti analysts kept a Neutral rating on CTS stock.

The Average True Range (ATR) for CTS Corporation is set at 1.41, with the Price to Sales ratio for CTS stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 2.81, with the Price to Cash per share for the same quarter was set at 5.22. Price to Free Cash Flow for CTS in the course of the last twelve months was 13.19 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for CTS stock

CTS Corporation [CTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.65. With this latest performance, CTS shares gained by 0.86% in over the last four-week period, additionally plugging by 1.18% over the last 6 months – not to mention a rise of 27.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTS stock in for the last two-week period is set at 47.07, with the RSI for the last a single of trading hit 44.04, and the three-weeks RSI is set at 48.81 for CTS Corporation [CTS]. The present Moving Average for the last 50 days of trading for this stock 44.94, while it was recorded at 46.52 for the last single week of trading, and 41.77 for the last 200 days.

CTS Corporation [CTS]: A deeper dive into fundamental analysis

CTS Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.90.

CTS Corporation [CTS]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CTS Corporation go to 11.00%.

An analysis of insider ownership at CTS Corporation [CTS]

There are presently around $1,373 million, or 97.50% of CTS stock, in the hands of institutional investors. The top three institutional holders of CTS stocks are: BLACKROCK INC. with ownership of 5,169,293, which is approximately 1.663% of the company’s market cap and around 0.60% of the total institutional ownership; T. ROWE PRICE INVESTMENT MANAGEMENT, INC., holding 3,331,200 shares of the stock with an approximate value of $150.84 million in CTS stocks shares; and VANGUARD GROUP INC, currently with $104.49 million in CTS stock with ownership of nearly -1.175% of the company’s market capitalization.

84 institutional holders increased their position in CTS Corporation [NYSE:CTS] by around 1,216,167 shares. Additionally, 108 investors decreased positions by around 1,638,041 shares, while 31 investors held positions by with 27,478,584 shares. The mentioned changes placed institutional holdings at 30,332,792 shares, according to the latest SEC report filing. CTS stock had 24 new institutional investments in for a total of 606,944 shares, while 26 institutional investors sold positions of 500,551 shares during the same period.


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