CTS (NYSE:CTS) Rating Lowered to Hold at 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 report issued to clients and investors on Friday.

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

CTS Trading Up 1.2 %

Shares of CTS stock opened at $52.16 on Friday. The stock has a 50-day moving average of $53.42 and a 200-day moving average of $50.70. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 26.89 and a beta of 0.60. CTS has a 1-year low of $40.92 and a 1-year high of $59.68.

CTS (NYSE:CTS) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $132.42 million for the quarter. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, equities research analysts forecast that CTS will post 2.15 earnings per share for the current year.

Insider Transactions at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 12,794 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total value of $710,067.00. Following the transaction, the chief executive officer now directly owns 400,456 shares in the company, valued at $22,225,308. This represents a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 59,956 shares of company stock valued at $3,331,185. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV raised its stake in shares of CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after acquiring an additional 630 shares in the last quarter. Perpetual Ltd boosted its position in CTS by 88.5% during the fourth quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker’s stock valued at $448,000 after buying an additional 3,991 shares during the period. Geode Capital Management LLC grew its stake in shares of CTS by 4.3% during the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after buying an additional 33,449 shares during the last quarter. Barclays PLC increased its holdings in shares of CTS by 256.1% in the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after buying an additional 41,164 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of CTS in the 3rd quarter valued at about $4,960,000. 96.87% of the stock is currently owned by hedge funds and other 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.