Barrington Research Maintains Outperform, $12 on CTS Corporation

Barrington Research reiterates its Outperform rating and $12 price target on CTS Corporation CTS ahead of earnings report from the company on January 25. Barrington Research notes, "Our estimates call for fourth quarter revenue of $158.2 million (+9.1%) and EPS of $0.23 (+35.3%) compared to $0.17 in the prior year. The First Call consensus estimate for EPS is $0.22 per share. The company does not provide quarterly estimates. ...With the release of Q3/11 financial results in October, CTS adjusted FY/11 guidance expecting results to be near the bottom of its prior guidance range with revenues in the range of $602-608 million (+9-10%) and adjusted earnings per share in the range of $0.68-0.71 due to the impact from the Thailand flood, combined with slower-than-expected recovery from the Japanese natural disasters in 2011." CTS closed at $9.84 per share on Friday.