Cooper-Standard Holdings Inc. (CPS) Cut to “Hold” at Zacks Investment Research
Cooper-Standard Holdings Inc. (NYSE:CPS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Cooper-Standard Holdings Inc. operates as a supplier of systems and components for the automotive industry. Its products include sealing and trim, fuel and brake delivery, fluid transfer, thermal and emissions and anti-vibration systems. The company markets its products directly to automotive original equipment manufacturers, tier I and tier II suppliers, and non-automotive manufacturers. Cooper-Standard Holdings Inc. is headquartered in Novi, Michigan. “
Other research analysts also recently issued research reports about the stock. Roth Capital set a $115.00 target price on shares of Cooper-Standard Holdings and gave the company a “buy” rating in a research report on Sunday, September 18th. Jefferies Group decreased their price target on shares of Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Seaport Global Securities began coverage on shares of Cooper-Standard Holdings in a research note on Tuesday, August 9th. They set a “buy” rating and a $108.00 price target for the company. Goldman Sachs Group Inc. restated a “neutral” rating and set a $99.00 price target (up previously from $94.00) on shares of Cooper-Standard Holdings in a research note on Saturday. Finally, Bank of America Corp. lowered shares of Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $102.43.
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Shares of Cooper-Standard Holdings (NYSE:CPS) traded down 0.46% during mid-day trading on Monday, reaching $100.50. 147,613 shares of the company’s stock were exchanged. The company has a market cap of $1.74 billion, a PE ratio of 14.83 and a beta of 0.62. The company’s 50-day moving average price is $100.85 and its 200 day moving average price is $87.16. Cooper-Standard Holdings has a 52-week low of $62.97 and a 52-week high of $107.94.
Cooper-Standard Holdings (NYSE:CPS) last released its earnings results on Thursday, July 28th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.61. Cooper-Standard Holdings had a net margin of 3.68% and a return on equity of 31.20%. The company had revenue of $879.30 million for the quarter, compared to the consensus estimate of $875.98 million. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Cooper-Standard Holdings will post $10.18 EPS for the current year.
In related news, insider Hill Advisors Genpar L.P. Oak sold 15,616 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $102.05, for a total value of $1,593,612.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Keith Dwayne Stephenson sold 42,940 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $98.03, for a total transaction of $4,209,408.20. Following the completion of the transaction, the vice president now directly owns 31,788 shares in the company, valued at $3,116,177.64. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Cooper-Standard Holdings by 731,852.4% in the second quarter. JPMorgan Chase & Co. now owns 307,420 shares of the company’s stock worth $24,283,000 after buying an additional 307,378 shares during the period. Numeric Investors LLC increased its position in shares of Cooper-Standard Holdings by 285.3% in the second quarter. Numeric Investors LLC now owns 389,491 shares of the company’s stock worth $30,766,000 after buying an additional 288,391 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cooper-Standard Holdings by 58.1% in the second quarter. Dimensional Fund Advisors LP now owns 499,795 shares of the company’s stock worth $39,478,000 after buying an additional 183,591 shares during the period. Prudential Financial Inc. increased its position in shares of Cooper-Standard Holdings by 266.7% in the second quarter. Prudential Financial Inc. now owns 176,814 shares of the company’s stock worth $13,967,000 after buying an additional 128,600 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Cooper-Standard Holdings by 9.0% in the second quarter. Vanguard Group Inc. now owns 1,345,386 shares of the company’s stock worth $106,272,000 after buying an additional 110,693 shares during the period. 96.91% of the stock is currently owned by institutional investors.
About Cooper-Standard Holdings
Cooper-Standard Holdings Inc is a holding company. The Company, through its subsidiaries, manufactures sealing, fuel and brake delivery, fluid transfer and anti-vibration systems components for use in passenger vehicles and light trucks. The Company operates through four segments, which include North America, Europe, South America and Asia Pacific.
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