Cooper Tire & Rubber Company (CTB) Given “Hold” Rating at Jefferies Group LLC
Cooper Tire & Rubber Company (NYSE:CTB)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group LLC in a research report issued on Tuesday. They currently have a $35.00 price objective on the stock. Jefferies Group LLC’s price target points to a potential upside of 6.71% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. FBR & Co reiterated a “buy” rating and set a $50.00 target price on shares of Cooper Tire & Rubber in a research note on Tuesday. BidaskClub upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG lifted their target price on Cooper Tire & Rubber from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.67.
Shares of Cooper Tire & Rubber (CTB) traded up 1.86% during trading on Tuesday, hitting $32.80. 1,556,640 shares of the stock traded hands. The stock has a 50 day moving average price of $36.23 and a 200-day moving average price of $36.55. The stock has a market cap of $1.71 billion and a price-to-earnings ratio of 9.07. Cooper Tire & Rubber has a 1-year low of $31.55 and a 1-year high of $44.50.
Cooper Tire & Rubber (NYSE:CTB) last released its earnings results on Monday, October 30th. The company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.33. The company had revenue of $733.80 million for the quarter, compared to analysts’ expectations of $779.02 million. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. Equities analysts forecast that Cooper Tire & Rubber will post $3.37 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in CTB. BlackRock Inc. raised its stake in Cooper Tire & Rubber by 36,940.2% in the 1st quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock valued at $255,971,000 after acquiring an additional 5,756,018 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Cooper Tire & Rubber in the 2nd quarter valued at about $25,270,000. State Street Corp raised its stake in Cooper Tire & Rubber by 57.0% in the 1st quarter. State Street Corp now owns 1,758,619 shares of the company’s stock valued at $77,994,000 after acquiring an additional 638,424 shares during the period. Fairpointe Capital LLC raised its stake in Cooper Tire & Rubber by 14.8% in the 2nd quarter. Fairpointe Capital LLC now owns 3,377,104 shares of the company’s stock valued at $121,914,000 after acquiring an additional 436,279 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in Cooper Tire & Rubber in the 2nd quarter valued at about $13,749,000.
Cooper Tire & Rubber Company Profile
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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