Intrinsic value of CTS - CTS

Previous Close

$35.85

  Intrinsic Value

$25.23

stock screener

  Rating & Target

sell

-30%

Previous close

$35.85

 
Intrinsic value

$25.23

 
Up/down potential

-30%

 
Rating

sell

We calculate the intrinsic value of CTS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.70
  11.03
  10.43
  9.88
  9.40
  8.96
  8.56
  8.20
  7.88
  7.60
  7.34
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.01
  5.91
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
Revenue, $m
  472
  525
  579
  637
  696
  759
  824
  891
  962
  1,035
  1,110
  1,189
  1,271
  1,357
  1,445
  1,537
  1,633
  1,733
  1,837
  1,946
  2,059
  2,177
  2,300
  2,429
  2,563
  2,704
  2,851
  3,004
  3,165
  3,333
Variable operating expenses, $m
  396
  438
  483
  529
  577
  628
  680
  735
  792
  851
  899
  963
  1,029
  1,098
  1,170
  1,244
  1,322
  1,403
  1,487
  1,575
  1,666
  1,762
  1,862
  1,966
  2,075
  2,188
  2,307
  2,432
  2,562
  2,698
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  396
  438
  483
  529
  577
  628
  680
  735
  792
  851
  899
  963
  1,029
  1,098
  1,170
  1,244
  1,322
  1,403
  1,487
  1,575
  1,666
  1,762
  1,862
  1,966
  2,075
  2,188
  2,307
  2,432
  2,562
  2,698
Operating income, $m
  76
  86
  97
  108
  119
  131
  143
  156
  169
  183
  212
  227
  242
  259
  275
  293
  311
  330
  350
  371
  392
  415
  438
  463
  489
  515
  543
  573
  603
  635
EBITDA, $m
  106
  118
  130
  143
  156
  170
  185
  200
  216
  232
  249
  267
  286
  305
  325
  345
  367
  389
  413
  437
  462
  489
  517
  546
  576
  607
  640
  675
  711
  749
Interest expense (income), $m
  3
  4
  5
  7
  8
  9
  11
  13
  14
  16
  18
  19
  21
  23
  25
  28
  30
  32
  34
  37
  40
  42
  45
  48
  51
  54
  58
  61
  65
  69
  73
Earnings before tax, $m
  72
  81
  90
  99
  109
  120
  131
  142
  154
  166
  192
  205
  219
  233
  248
  263
  279
  296
  313
  331
  350
  370
  390
  412
  434
  458
  482
  508
  535
  563
Tax expense, $m
  19
  22
  24
  27
  30
  32
  35
  38
  41
  45
  52
  55
  59
  63
  67
  71
  75
  80
  85
  89
  95
  100
  105
  111
  117
  124
  130
  137
  144
  152
Net income, $m
  53
  59
  66
  73
  80
  87
  95
  104
  112
  121
  140
  150
  160
  170
  181
  192
  204
  216
  229
  242
  256
  270
  285
  301
  317
  334
  352
  371
  390
  411

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  591
  656
  724
  796
  870
  948
  1,030
  1,114
  1,202
  1,293
  1,388
  1,487
  1,589
  1,696
  1,806
  1,922
  2,042
  2,167
  2,297
  2,432
  2,574
  2,721
  2,875
  3,036
  3,204
  3,380
  3,563
  3,755
  3,956
  4,167
Adjusted assets (=assets-cash), $m
  591
  656
  724
  796
  870
  948
  1,030
  1,114
  1,202
  1,293
  1,388
  1,487
  1,589
  1,696
  1,806
  1,922
  2,042
  2,167
  2,297
  2,432
  2,574
  2,721
  2,875
  3,036
  3,204
  3,380
  3,563
  3,755
  3,956
  4,167
Revenue / Adjusted assets
  0.799
  0.800
  0.800
  0.800
  0.800
  0.801
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
  0.800
Average production assets, $m
  169
  187
  207
  227
  249
  271
  294
  318
  343
  369
  396
  425
  454
  484
  516
  549
  583
  619
  656
  695
  735
  777
  821
  867
  915
  965
  1,018
  1,073
  1,130
  1,190
Working capital, $m
  20
  22
  24
  27
  29
  32
  35
  37
  40
  43
  47
  50
  53
  57
  61
  65
  69
  73
  77
  82
  86
  91
  97
  102
  108
  114
  120
  126
  133
  140
Total debt, $m
  100
  124
  149
  176
  203
  232
  262
  294
  326
  360
  395
  432
  470
  510
  551
  593
  638
  684
  732
  783
  835
  890
  947
  1,007
  1,069
  1,134
  1,202
  1,274
  1,348
  1,426
Total liabilities, $m
  219
  243
  269
  295
  323
  352
  382
  413
  446
  480
  515
  552
  590
  629
  670
  713
  757
  804
  852
  902
  955
  1,010
  1,067
  1,126
  1,189
  1,254
  1,322
  1,393
  1,468
  1,546
Total equity, $m
  371
  412
  455
  500
  548
  597
  648
  701
  756
  813
  873
  935
  1,000
  1,067
  1,136
  1,209
  1,284
  1,363
  1,445
  1,530
  1,619
  1,712
  1,809
  1,910
  2,015
  2,126
  2,241
  2,362
  2,489
  2,621
Total liabilities and equity, $m
  590
  655
  724
  795
  871
  949
  1,030
  1,114
  1,202
  1,293
  1,388
  1,487
  1,590
  1,696
  1,806
  1,922
  2,041
  2,167
  2,297
  2,432
  2,574
  2,722
  2,876
  3,036
  3,204
  3,380
  3,563
  3,755
  3,957
  4,167
Debt-to-equity ratio
  0.270
  0.300
  0.330
  0.350
  0.370
  0.390
  0.410
  0.420
  0.430
  0.440
  0.450
  0.460
  0.470
  0.480
  0.480
  0.490
  0.500
  0.500
  0.510
  0.510
  0.520
  0.520
  0.520
  0.530
  0.530
  0.530
  0.540
  0.540
  0.540
  0.540
Adjusted equity ratio
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  53
  59
  66
  73
  80
  87
  95
  104
  112
  121
  140
  150
  160
  170
  181
  192
  204
  216
  229
  242
  256
  270
  285
  301
  317
  334
  352
  371
  390
  411
Depreciation, amort., depletion, $m
  30
  32
  33
  35
  37
  40
  42
  44
  46
  49
  38
  40
  43
  46
  49
  52
  56
  59
  62
  66
  70
  74
  78
  83
  87
  92
  97
  102
  108
  113
Funds from operations, $m
  83
  91
  99
  108
  117
  127
  137
  148
  159
  170
  178
  190
  203
  216
  230
  244
  259
  275
  291
  308
  326
  344
  363
  383
  404
  426
  449
  473
  498
  524
Change in working capital, $m
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
Cash from operations, $m
  80
  88
  97
  106
  115
  124
  134
  145
  156
  167
  175
  187
  200
  213
  226
  241
  255
  271
  287
  303
  321
  339
  358
  378
  399
  420
  443
  466
  491
  517
Maintenance CAPEX, $m
  -14
  -16
  -18
  -20
  -22
  -24
  -26
  -28
  -30
  -33
  -35
  -38
  -40
  -43
  -46
  -49
  -52
  -56
  -59
  -62
  -66
  -70
  -74
  -78
  -83
  -87
  -92
  -97
  -102
  -108
New CAPEX, $m
  -17
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
Cash from investing activities, $m
  -31
  -35
  -38
  -40
  -43
  -46
  -49
  -52
  -55
  -59
  -62
  -66
  -69
  -73
  -78
  -82
  -86
  -92
  -96
  -101
  -106
  -112
  -118
  -124
  -131
  -137
  -144
  -152
  -159
  -168
Free cash flow, $m
  49
  54
  59
  66
  72
  79
  85
  93
  100
  108
  113
  121
  130
  139
  149
  159
  169
  180
  191
  202
  214
  227
  240
  254
  268
  283
  298
  315
  332
  349
Issuance/(repayment) of debt, $m
  23
  24
  25
  27
  28
  29
  30
  31
  33
  34
  35
  37
  38
  40
  41
  43
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  68
  71
  75
  78
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  23
  24
  25
  27
  28
  29
  30
  31
  33
  34
  35
  37
  38
  40
  41
  43
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  68
  71
  75
  78
Total cash flow (excl. dividends), $m
  72
  78
  85
  92
  100
  107
  116
  124
  133
  142
  148
  158
  168
  179
  190
  201
  213
  226
  239
  253
  267
  282
  297
  313
  330
  348
  366
  386
  406
  427
Retained Cash Flow (-), $m
  -39
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -64
  -67
  -70
  -72
  -75
  -79
  -82
  -85
  -89
  -93
  -97
  -101
  -106
  -110
  -115
  -121
  -126
  -132
Prev. year cash balance distribution, $m
  11
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  44
  37
  42
  47
  53
  58
  65
  71
  78
  85
  88
  96
  104
  112
  120
  129
  138
  147
  157
  167
  178
  189
  200
  212
  225
  238
  251
  265
  280
  295
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  42
  34
  36
  39
  41
  42
  44
  44
  45
  44
  42
  41
  39
  37
  35
  33
  30
  27
  24
  21
  18
  16
  13
  11
  9
  7
  5
  4
  3
  2
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
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CTS Corporation is a manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the transportation, industrial, medical, information technology, defense and aerospace, and communications markets. It operates manufacturing facilities in North America, Asia and Europe. Its products perform specific electronic functions for a given product family and are intended for use in customer assemblies. The Company's products consist principally of sensors and actuators used in passenger or commercial vehicles; electronic components used in communications infrastructure, information technology and other high-speed applications; switches and potentiometers supplied to multiple markets, and fabricated piezoelectric materials and substrates used primarily in medical, industrial, defense and aerospace, and information technology markets.

FINANCIAL RATIOS  of  CTS (CTS)

Valuation Ratios
P/E Ratio 34.5
Price to Sales 3
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 25
Price to Free Cash Flow 45.2
Growth Rates
Sales Growth Rate 3.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 110%
Cap. Spend. - 3 Yr. Gr. Rate 8.4%
Financial Strength
Quick Ratio 114
Current Ratio 0.1
LT Debt to Equity 28%
Total Debt to Equity 28.3%
Interest Coverage 20
Management Effectiveness
Return On Assets 7.2%
Ret/ On Assets - 3 Yr. Avg. 5%
Return On Total Capital 8.7%
Ret/ On T. Cap. - 3 Yr. Avg. 6%
Return On Equity 11.3%
Return On Equity - 3 Yr. Avg. 7.7%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 35.3%
Gross Margin - 3 Yr. Avg. 33.7%
EBITDA Margin 19.9%
EBITDA Margin - 3 Yr. Avg. 14%
Operating Margin 15.9%
Oper. Margin - 3 Yr. Avg. 10.3%
Pre-Tax Margin 14.4%
Pre-Tax Margin - 3 Yr. Avg. 9.1%
Net Profit Margin 8.6%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 40.4%
Eff/ Tax Rate - 3 Yr. Avg. 37.6%
Payout Ratio 14.7%

CTS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CTS stock intrinsic value calculation we used $422.993 million for the last fiscal year's total revenue generated by CTS. The default revenue input number comes from 0001 income statement of CTS. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CTS stock valuation model: a) initial revenue growth rate of 11.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CTS is calculated based on our internal credit rating of CTS, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of CTS.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CTS stock the variable cost ratio is equal to 84.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CTS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for CTS.

Corporate tax rate of 27% is the nominal tax rate for CTS. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CTS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CTS are equal to 35.7%.

Life of production assets of 10.5 years is the average useful life of capital assets used in CTS operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CTS is equal to 4.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $343.805 million for CTS - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 33.087 million for CTS is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of CTS at the current share price and the inputted number of shares is $1.2 billion.

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COMPANY NEWS

▶ CTS to Present at the Sidoti & Company Fall 2018 Conference   [Sep-17-18 03:35PM  GlobeNewswire]
▶ CTS Corporation Declares a Dividend   [Aug-23-18 12:30PM  GlobeNewswire]
▶ CTS: 2Q Earnings Snapshot   [09:44AM  Associated Press]
▶ CTS Announces Second Quarter 2018 Results   [08:00AM  GlobeNewswire]
▶ CTS Corporation Declares A Dividend   [May-17-18 11:25AM  GlobeNewswire]
▶ Did City Service SE (WSE:CTS) Create Value For Shareholders?   [May-11-18 07:03AM  Simply Wall St.]
▶ CTS: 1Q Earnings Snapshot   [10:46AM  Associated Press]
▶ CTS Corporation to Host Earnings Call   [10:10AM  ACCESSWIRE]
▶ CTS Announces First Quarter 2018 Results   [08:00AM  GlobeNewswire]
▶ CTS to Present at Oppenheimer Industrial Growth Conference   [Apr-24-18 01:17PM  GlobeNewswire]
▶ CTS Corporation Declares a Dividend   [Feb-08-18 10:48AM  GlobeNewswire]
▶ CTS reports 4Q loss   [Feb-06-18 09:27AM  Associated Press]
▶ CTS Corporation to Host Earnings Call   [09:00AM  ACCESSWIRE]
▶ CTS to Present at the Needham Growth Conference   [Jan-03-18 11:59AM  GlobeNewswire]
▶ CTS Corp. Value Analysis (NYSE:CTS) : December 8, 2017   [Dec-08-17 01:57PM  Capital Cube]
▶ ETFs with exposure to CTS Corp. : December 1, 2017   [Dec-01-17 10:35AM  Capital Cube]
▶ ETFs with exposure to CTS Corp. : November 14, 2017   [Nov-14-17 02:11PM  Capital Cube]
▶ CTS Corporation Declares a Dividend   [Nov-09-17 11:29AM  Business Wire]
▶ ETFs with exposure to CTS Corp. : November 1, 2017   [Nov-01-17 12:03PM  Capital Cube]
▶ CTS Third quarter results in line with expectations   [Oct-26-17 05:00PM  Zacks Small Cap Research]
▶ CTS posts 3Q profit   [08:43AM  Associated Press]
▶ CTS Corporation to Host Earnings Call   [08:15AM  ACCESSWIRE]
▶ CTS Announces Third Quarter 2017 Results   [08:00AM  Business Wire]
▶ Should You Buy CTS Corporation (CTS) At This PE Ratio?   [Sep-28-17 08:30PM  Simply Wall St.]
▶ CTS Corp. Value Analysis (NYSE:CTS) : August 29, 2017   [Aug-28-17 08:19PM  Capital Cube]
▶ CTS Corporation Declares a Dividend   [Aug-23-17 06:59PM  Business Wire]
▶ ETFs with exposure to CTS Corp. : August 11, 2017   [Aug-11-17 05:12PM  Capital Cube]
▶ CTS: Second quarter earnings were above expectations   [Jul-31-17 01:00PM  Zacks Small Cap Research]
▶ CTS posts 2Q profit   [01:32AM  Associated Press]
▶ CTS Announces Second Quarter 2017 Results   [08:00AM  Business Wire]
▶ CTS Corp. Value Analysis (NYSE:CTS) : June 2, 2017   [Jun-02-17 02:52PM  Capital Cube]
▶ CTS Corporation Declares a Dividend   [May-18-17 04:30PM  Business Wire]
▶ CTS RF Sensor Technology Nominated for AMA Innovation Award   [May-04-17 06:17PM  Business Wire]
▶ ETFs with exposure to CTS Corp. : May 2, 2017   [May-02-17 03:54PM  Capital Cube]
▶ CTS to Present at Oppenheimer Industrial Growth Conference   [Apr-27-17 04:30PM  Business Wire]
▶ CTS posts 1Q profit   [09:38AM  Associated Press]
▶ CTS Announces First Quarter 2017 Results   [08:00AM  Business Wire]
▶ CTS to Present at the ROTH Conference   [Feb-23-17 11:50AM  Business Wire]

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