CTS (NYSE:CTS) Stock Rating Lowered by StockNews.com

CTS (NYSE:CTS) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

CTS Stock Up 0.6 %

Shares of CTS opened at $46.80 on Monday. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 27.53 and a beta of 0.58. CTS has a 12 month low of $35.50 and a 12 month high of $55.47. The company has a 50-day moving average price of $48.57 and a two-hundred day moving average price of $48.55.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business had revenue of $130.16 million for the quarter, compared to the consensus estimate of $133.33 million. During the same period in the previous year, the business earned $0.59 EPS. CTS’s revenue was down 10.3% compared to the same quarter last year. Equities analysts predict that CTS will post 2.15 EPS for the current fiscal year.

Institutional Investors Weigh In On CTS

A number of institutional investors and hedge funds have recently modified their holdings of CTS. Innealta Capital LLC acquired a new stake in shares of CTS during the second quarter worth $27,000. Parallel Advisors LLC increased its position in shares of CTS by 245.5% during the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 410 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in CTS during the second quarter worth $41,000. Central Pacific Bank Trust Division bought a new stake in shares of CTS in the 1st quarter valued at about $46,000. Finally, Quadrant Capital Group LLC raised its stake in CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after buying an additional 336 shares during the period. 96.87% of the stock is owned by institutional investors.

CTS Company Profile

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.