CTS (CTS) Cut to “Sell” at 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 Wednesday.

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. “

Separately, ValuEngine cut shares of CTS from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th.

Shares of CTS stock opened at $30.97 on Wednesday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 20.26 and a beta of 1.32. CTS has a 52 week low of $24.07 and a 52 week high of $39.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.88 and a current ratio of 2.30.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 5th. The electronics maker reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $117.00 million. CTS had a net margin of 9.89% and a return on equity of 14.09%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities analysts expect that CTS will post 1.6 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in shares of CTS by 253.1% during the 4th quarter. LS Investment Advisors LLC now owns 3,513 shares of the electronics maker’s stock valued at $91,000 after buying an additional 2,518 shares in the last quarter. Bank of Montreal Can raised its position in shares of CTS by 44.8% during the 4th quarter. Bank of Montreal Can now owns 3,875 shares of the electronics maker’s stock valued at $100,000 after buying an additional 1,199 shares in the last quarter. US Bancorp DE raised its position in CTS by 558.2% in the 3rd quarter. US Bancorp DE now owns 3,258 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 2,763 shares during the period. ClariVest Asset Management LLC purchased a new stake in CTS in the 3rd quarter worth about $140,000. Finally, Advisors Asset Management Inc. raised its position in CTS by 152.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,742 shares of the electronics maker’s stock worth $197,000 after purchasing an additional 3,464 shares during the period. Hedge funds and other institutional investors own 92.63% of the company’s stock.

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.

Recommended Story: Derivative

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.