Cooper Tire & Rubber Co.’s “Neutral” Rating Reaffirmed at Zacks (CTB)
Cooper Tire & Rubber Co. (NYSE:CTB)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Friday, StockRatingsNetwork.com reports. They currently have a $25.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 4.47% from the stock’s previous close.
Zacks‘ analyst wrote, “Cooper Tire’s earnings in the second quarter of 2013 lagged the Zacks Consensus Estimate and the year-ago quarter’s earnings due to lower revenues. The operating profit in the quarter declined because of reduced volumes, higher manufacturing and selling, general and administrative expenses and unfavorable price and mix. We are concerned about the termination of the company’s merger agreement with Apollo Tyres. However, Cooper Tire is expected to benefit from the high-performance products and focus on improving its business operation. With this, we continue to maintain a Neutral recommendation on the stock. “
Shares of Cooper Tire & Rubber Co. (NYSE:CTB) traded up 2.51% on Friday, hitting $24.53. The stock had a trading volume of 1,540,782 shares. Cooper Tire & Rubber Co. has a 52-week low of $20.55 and a 52-week high of $34.79. The stock has a 50-day moving average of $23.49 and a 200-day moving average of $28.90. The company has a market cap of $1.601 billion and a price-to-earnings ratio of 6.40.
Separately, analysts at KeyCorp reiterated a “hold” rating on shares of Cooper Tire & Rubber Co. in a research note to investors on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.67.
Cooper Tire & Rubber Company (NYSE:CTB) is a manufacturer and marketer of replacement tires.
To view Zacks’ full report, visit www.zacks.com
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