CTS (NYSE:CTS) Downgraded by StockNews.com

CTS (NYSE:CTS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

CTS Stock Down 1.1 %

Shares of NYSE:CTS traded down $0.52 during trading on Monday, hitting $46.51. 149,173 shares of the company’s stock traded hands, compared to its average volume of 151,928. The company has a 50-day moving average price of $48.61 and a 200-day moving average price of $48.54. CTS has a 52 week low of $35.50 and a 52 week high of $55.47. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 27.36 and a beta of 0.58.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. CTS had a net margin of 10.70% and a return on equity of 11.98%. The company had revenue of $130.16 million during the quarter, compared to analysts’ expectations of $133.33 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, 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 modified their holdings of the company. Russell Investments Group Ltd. boosted its position in CTS by 13.9% during the 4th quarter. Russell Investments Group Ltd. now owns 15,340 shares of the electronics maker’s stock worth $671,000 after acquiring an additional 1,871 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CTS by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock worth $15,374,000 after purchasing an additional 8,248 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in CTS by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after purchasing an additional 336 shares during the last quarter. Norges Bank bought a new position in CTS in the fourth quarter valued at $8,859,000. Finally, Franklin Resources Inc. increased its stake in CTS by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 69,086 shares of the electronics maker’s stock valued at $3,022,000 after buying an additional 401 shares during 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.