CTS (NYSE:CTS) Downgraded by StockNews.com to Hold

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

Separately, Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th.

CTS Stock Down 0.5 %

Shares of CTS traded down $0.27 during mid-day trading on Thursday, hitting $58.70. The company’s stock had a trading volume of 229,055 shares, compared to its average volume of 149,607. The company’s 50-day moving average is $48.40 and its 200-day moving average is $49.52. CTS has a 52-week low of $37.60 and a 52-week high of $59.49. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 30.26 and a beta of 0.58. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The firm had revenue of $132.42 million during the quarter. During the same period in the previous year, the company posted $0.54 EPS. On average, equities research analysts forecast that CTS will post 2.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Pitcairn Co. increased its stake in CTS by 3.2% during the 1st quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 222 shares in the last quarter. Trust Point Inc. increased its stake in CTS by 2.1% during the 3rd quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock valued at $622,000 after purchasing an additional 270 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of CTS by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock worth $887,000 after acquiring an additional 285 shares during the period. AQR Capital Management LLC increased its stake in shares of CTS by 5.8% in the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after acquiring an additional 308 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of CTS by 132.5% in the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

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.