Cooper Tire & Rubber Co Now Covered by Analysts at SunTrust (CTB)
Equities research analysts at SunTrust initiated coverage on shares of Cooper Tire & Rubber Co (NYSE:CTB) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
A number of other firms have also recently commented on CTB. Analysts at Zacks upgraded shares of Cooper Tire & Rubber Co from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 19th. They now have a $36.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Cooper Tire & Rubber Co from $36.00 to $37.00 in a research note on Friday, August 8th. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Cooper Tire & Rubber Co in a research note on Wednesday, July 23rd. They set a “neutral” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $25.16.
Shares of Cooper Tire & Rubber Co (NYSE:CTB) traded down 0.33% during mid-day trading on Wednesday, hitting $30.23. 682,032 shares of the company’s stock traded hands. Cooper Tire & Rubber Co has a 1-year low of $20.55 and a 1-year high of $33.26. The stock has a 50-day moving average of $29.7 and a 200-day moving average of $27.12. The company has a market cap of $1.923 billion and a P/E ratio of 18.93. Cooper Tire & Rubber Co also saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 7,824,246 shares, an increase of 190.4% from the July 31st total of 2,694,546 shares. Based on an average trading volume of 765,393 shares, the short-interest ratio is presently 10.2 days. Currently, 12.9% of the company’s stock are short sold.
Cooper Tire & Rubber Co (NYSE:CTB) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.80 by $0.21. The company had revenue of $889.00 million for the quarter, compared to the consensus estimate of $863.30 million. During the same quarter last year, the company posted $0.55 earnings per share. Cooper Tire & Rubber Co’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that Cooper Tire & Rubber Co will post $2.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, August 28th.
Cooper Tire & Rubber Company (NYSE:CTB) is a manufacturer and marketer of replacement tires.
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