CTS (NYSE:CTS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.
CTS Stock Up 2.9%
Shares of CTS stock traded up $1.17 during trading on Friday, reaching $41.62. 39,889 shares of the company traded hands, compared to its average volume of 170,142. The firm has a market capitalization of $1.24 billion, a PE ratio of 21.91 and a beta of 0.76. CTS has a 1-year low of $34.02 and a 1-year high of $59.68. The company has a 50 day moving average price of $39.55 and a 200-day moving average price of $46.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95.
CTS (NYSE:CTS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). The company had revenue of $125.77 million for the quarter, compared to analyst estimates of $128.72 million. CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, equities research analysts expect that CTS will post 2.28 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CTS
A number of large investors have recently modified their holdings of CTS. Raymond James Financial Inc. acquired a new position in CTS during the fourth quarter worth $15,852,000. Nuveen LLC bought a new stake in shares of CTS during the first quarter worth about $3,655,000. Norges Bank acquired a new stake in shares of CTS in the 4th quarter worth about $4,439,000. T. Rowe Price Investment Management Inc. lifted its position in CTS by 3.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock valued at $116,956,000 after acquiring an additional 73,435 shares in the last quarter. Finally, Madison Investment Advisors LLC bought a new position in CTS in the 4th quarter valued at about $3,787,000. 96.87% of the stock is currently owned by institutional investors.
About CTS
(
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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.
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