Cooper Tire & Rubber Co Receives Consensus Rating of “Hold” from Analysts (NYSE:CTB)
Shares of Cooper Tire & Rubber Co (NYSE:CTB) have been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the stock, Analyst RN reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $27.37.
Cooper Tire & Rubber Co (NYSE:CTB) opened at 30.83 on Thursday. Cooper Tire & Rubber Co has a 52-week low of $20.55 and a 52-week high of $33.26. The stock’s 50-day moving average is $29.87 and its 200-day moving average is $27.20. The company has a market cap of $1.961 billion and a P/E ratio of 18.96. Cooper Tire & Rubber Co also was the recipient of a large 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. Currently, 12.9% of the company’s stock are short sold. Based on an average daily volume of 765,393 shares, the days-to-cover ratio is presently 10.2 days.
Cooper Tire & Rubber Co (NYSE:CTB) last released its earnings data on Thursday, August 7th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that Cooper Tire & Rubber Co will post $2.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders 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 1.36%. The ex-dividend date is Thursday, August 28th.
A number of analysts have recently weighed in on CTB shares. Analysts at SunTrust initiated coverage on shares of Cooper Tire & Rubber Co in a research note on Wednesday, August 27th. They set a “neutral” rating and a $34.00 price target on the stock. Separately, 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. Finally, 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.
Cooper Tire & Rubber Company (NYSE:CTB) is a manufacturer and marketer of replacement tires.
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