CTS (CTS) Stock Rating Lowered by Zacks Investment Research

CTS (NYSE:CTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.

According to Zacks, “CTS Corporation is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components and supplies these products to OEMs in the aerospace, communications, defense, industrial, information technology, medical and transportation markets. CTS focus on providing advanced technology, exceptional customer service and superior value to industry partners throughout the globe. CTS aims to be at the forefront of technology, delivering innovative sensing, connectivity and motion solutions for the creation and advancement of products and services around the world. CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, as well as the provision of electronics manufacturing services worldwide. It operates in two segments, Electronics Manufacturing Services, and Components and Sensors. “

CTS stock traded down $0.09 during mid-day trading on Friday, hitting $30.81. The company’s stock had a trading volume of 299,890 shares, compared to its average volume of 155,557. The company has a market capitalization of $1.01 billion, a PE ratio of 20.14 and a beta of 1.33. The company has a quick ratio of 1.88, a current ratio of 2.30 and a debt-to-equity ratio of 0.13. CTS has a one year low of $24.07 and a one year high of $39.20.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, February 5th. The electronics maker reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $117.00 million. CTS had a return on equity of 14.09% and a net margin of 9.89%. CTS’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. As a group, research analysts anticipate that CTS will post 1.6 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in shares of CTS by 6.2% during the 4th quarter. Arizona State Retirement System now owns 50,954 shares of the electronics maker’s stock worth $1,319,000 after purchasing an additional 2,957 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in CTS by 10.3% in the third quarter. PNC Financial Services Group Inc. now owns 24,921 shares of the electronics maker’s stock valued at $856,000 after buying an additional 2,318 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in CTS by 187.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 37,884 shares of the electronics maker’s stock valued at $1,299,000 after buying an additional 24,700 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in CTS by 53.2% in the third quarter. MetLife Investment Advisors LLC now owns 24,057 shares of the electronics maker’s stock valued at $825,000 after buying an additional 8,356 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in CTS by 152.1% in the third quarter. Advisors Asset Management Inc. now owns 5,742 shares of the electronics maker’s stock valued at $197,000 after buying an additional 3,464 shares during the last quarter. 92.78% of the stock is currently owned by institutional investors.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace, defense, communications, industrial, information technology, medical, and transportation markets. The company offers sensors and actuators used in passenger or consumer vehicles; electronic components used in communications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, defense and aerospace, and information technology markets.

See Also: Why Dividend Stocks May Be Right for You

Get a free copy of the Zacks research report on CTS (CTS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit