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

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

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

CTS Price Performance

CTS stock traded down $0.27 during mid-day trading on Thursday, hitting $58.70. The company had a trading volume of 229,055 shares, compared to its average volume of 149,607. The company has a 50-day moving average price of $48.40 and a 200 day moving average price of $49.52. CTS has a 12-month low of $37.60 and a 12-month high of $59.49. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 30.26 and a beta of 0.58.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter. During the same quarter last year, the firm earned $0.54 earnings per share. On average, research analysts anticipate that CTS will post 2.15 earnings per share for the current year.

Hedge Funds Weigh In On CTS

Several hedge funds have recently added to or reduced their stakes in CTS. BNP Paribas Financial Markets grew its holdings in CTS by 9.2% during the 1st quarter. BNP Paribas Financial Markets now owns 27,511 shares of the electronics maker’s stock valued at $1,287,000 after purchasing an additional 2,310 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in CTS in the 1st quarter worth about $216,000. Central Pacific Bank Trust Division bought a new position in CTS in the 1st quarter worth about $46,000. Texas Permanent School Fund Corp grew its stake in CTS by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after acquiring an additional 352 shares in the last quarter. Finally, Heartland Advisors Inc. grew its stake in CTS by 1.7% in the 1st quarter. Heartland Advisors Inc. now owns 212,455 shares of the electronics maker’s stock worth $9,941,000 after acquiring an additional 3,509 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

About CTS

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.