CTS (NYSE:CTS) Cut 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 note issued to investors on Wednesday.

CTS Price Performance

Shares of NYSE CTS traded up $1.04 during midday trading on Wednesday, hitting $48.93. 355,066 shares of the company’s stock were exchanged, compared to its average volume of 154,693. CTS has a 12-month low of $35.50 and a 12-month high of $55.47. The company has a current ratio of 3.32, a quick ratio of 2.71 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 28.78 and a beta of 0.60. The business’s fifty day moving average price is $51.72 and its two-hundred day moving average price is $47.70.

CTS (NYSE:CTS) last released its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $130.16 million during the quarter, compared to the consensus estimate of $133.33 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. CTS’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, research analysts forecast that CTS will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Martin Baumeister sold 5,733 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $52.39, for a total value of $300,351.87. Following the sale, the senior vice president now directly owns 19,811 shares of the company’s stock, valued at $1,037,898.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CTS. Parallel Advisors LLC grew its position in shares of CTS by 245.5% during the fourth quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 410 shares in the last quarter. Innealta Capital LLC purchased a new position in CTS during the 2nd quarter valued at approximately $27,000. Central Pacific Bank Trust Division purchased a new position in CTS during the 1st quarter valued at approximately $46,000. Quadrant Capital Group LLC grew its holdings in CTS by 25.8% during the 4th 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 in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in CTS during the 2nd quarter valued at approximately $157,000. Institutional investors 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.