CTS (NYSE:CTS) Rating Lowered to Hold at Scotiabank

CTS (NYSE:CTS) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.67.

CTS Trading Up 0.7 %

Shares of NYSE:CTS opened at $47.75 on Friday. The company has a 50 day moving average of $47.72 and a 200-day moving average of $49.07. 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 firm has a market cap of $1.47 billion, a P/E ratio of 28.09 and a beta of 0.57. CTS has a twelve month low of $35.50 and a twelve month high of $55.47.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $133.33 million. During the same period in the prior year, the company earned $0.59 EPS. CTS’s revenue was down 10.3% on a year-over-year basis. As a group, analysts anticipate that CTS will post 2.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CTS

Several large investors have recently modified their holdings of CTS. Pitcairn Co. lifted its holdings in CTS by 3.2% during the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 222 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of CTS by 2.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after acquiring an additional 249 shares during the period. Trust Point Inc. raised its position in shares of CTS by 2.1% in the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock valued at $622,000 after purchasing an additional 270 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of CTS by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock worth $887,000 after acquiring an additional 285 shares during the period. Finally, AQR Capital Management LLC increased its position in CTS by 5.8% during the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after acquiring an additional 308 shares during the period. 96.87% of the stock is currently owned by 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.