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CTS (NYSE:CTS) Lowered to Sell at Zacks Investment Research

Last updated on Tuesday, September 29, 2020 | 2020 MarketBeat

CTS (NYSE:CTS) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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 lowered shares of CTS from a "hold" rating to a "sell" rating in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of "Hold" and a consensus target price of $29.00.

NYSE:CTS traded down $0.16 during mid-day trading on Tuesday, reaching $21.95. The company's stock had a trading volume of 116,241 shares, compared to its average volume of 158,611. CTS has a 12-month low of $17.92 and a 12-month high of $34.29. The firm's fifty day moving average price is $21.50 and its two-hundred day moving average price is $21.14. The company has a current ratio of 3.40, a quick ratio of 2.84 and a debt-to-equity ratio of 0.35. The stock has a market cap of $708.28 million, a P/E ratio of 33.26 and a beta of 0.84.

CTS (NYSE:CTS) last issued its earnings results on Friday, July 31st. The electronics maker reported $0.16 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.07 by $0.09. CTS had a return on equity of 8.25% and a net margin of 5.13%. The business had revenue of $84.20 million during the quarter, compared to analyst estimates of $88.93 million. During the same quarter in the previous year, the firm earned $0.40 EPS. CTS's revenue was down 30.2% on a year-over-year basis. Analysts predict that CTS will post 0.8 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in CTS by 816.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,467 shares of the electronics maker's stock worth $37,000 after purchasing an additional 1,307 shares during the period. Point72 Hong Kong Ltd bought a new position in CTS in the 2nd quarter worth approximately $48,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CTS by 212.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,695 shares of the electronics maker's stock worth $114,000 after purchasing an additional 3,870 shares during the period. Russell Investments Group Ltd. boosted its stake in CTS by 220.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,753 shares of the electronics maker's stock worth $155,000 after purchasing an additional 5,333 shares during the period. Finally, First Mercantile Trust Co. boosted its stake in CTS by 109.4% in the 2nd quarter. First Mercantile Trust Co. now owns 9,344 shares of the electronics maker's stock worth $188,000 after purchasing an additional 4,882 shares during the period. Institutional investors own 92.61% 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 and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications 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, aerospace and defense, and information technology markets.

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