Cooper Tire & Rubber Co SVP Christopher E. Ostrander Sells 15,000 Shares (CTB)
Cooper Tire & Rubber Co (NYSE:CTB) SVP Christopher E. Ostrander unloaded 15,000 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $30.84, for a total transaction of $462,600.00. Following the completion of the sale, the senior vice president now directly owns 60,339 shares of the company’s stock, valued at approximately $1,860,855. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $27.37.
Cooper Tire & Rubber Co (NYSE:CTB) remained flat at $30.91 during trading on Wednesday. 352,392 shares of the company’s stock traded hands. 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. and its 200-day moving average is $27.3. The company has a market cap of $1.966 billion and a price-to-earnings ratio of 19.29. Cooper Tire & Rubber Co also saw a significant increase in short interest during the month of 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 daily trading volume, of 765,393 shares, the short-interest ratio is currently 10.2 days. Approximately 12.9% of the shares of the stock are short sold.
Cooper Tire & Rubber Co (NYSE:CTB) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue 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 declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 28th.
Cooper Tire & Rubber Company (NYSE:CTB) is a manufacturer and marketer of replacement tires.
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