Cooper-Standard Holdings Inc (NYSE:CPS) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 889,700 shares, a decline of 12.1% from the July 31st total of 1,012,700 shares. Based on an average daily volume of 197,300 shares, the short-interest ratio is presently 4.5 days. Approximately 5.4% of the shares of the company are sold short.
In other news, SVP William Pumphrey purchased 5,320 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average price of $39.00 per share, for a total transaction of $207,480.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Song Min Lee purchased 3,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $33.27 per share, with a total value of $99,810.00. Following the transaction, the senior vice president now directly owns 16,784 shares of the company’s stock, valued at approximately $558,403.68. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 8,820 shares of company stock valued at $326,235. 3.30% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CPS. Janus Henderson Group PLC lifted its holdings in Cooper-Standard by 22.2% in the second quarter. Janus Henderson Group PLC now owns 1,090,338 shares of the auto parts company’s stock worth $49,959,000 after purchasing an additional 198,071 shares during the period. Bank of America Corp DE lifted its holdings in Cooper-Standard by 50.6% in the second quarter. Bank of America Corp DE now owns 269,417 shares of the auto parts company’s stock worth $12,344,000 after purchasing an additional 90,525 shares during the period. Nuveen Asset Management LLC acquired a new stake in Cooper-Standard in the second quarter worth about $3,789,000. BlackRock Inc. lifted its holdings in Cooper-Standard by 2.7% in the second quarter. BlackRock Inc. now owns 2,539,899 shares of the auto parts company’s stock worth $116,379,000 after purchasing an additional 66,366 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Cooper-Standard by 48.1% in the second quarter. Prudential Financial Inc. now owns 160,268 shares of the auto parts company’s stock worth $7,343,000 after purchasing an additional 52,020 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.
Several equities analysts have recently commented on the stock. Goldman Sachs Group lowered shares of Cooper-Standard from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $51.00 to $36.00 in a research report on Thursday, June 13th. Buckingham Research lowered their price target on shares of Cooper-Standard from $63.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, ValuEngine upgraded shares of Cooper-Standard from a “hold” rating to a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $48.00.
Shares of Cooper-Standard stock traded down $0.19 during trading on Thursday, hitting $48.23. 2,214 shares of the stock were exchanged, compared to its average volume of 195,663. The stock’s fifty day moving average is $39.30 and its 200 day moving average is $46.70. The stock has a market cap of $778.35 million, a PE ratio of 5.24 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 1.75. Cooper-Standard has a 12 month low of $30.82 and a 12 month high of $133.16.
Cooper-Standard (NYSE:CPS) last released its quarterly earnings results on Thursday, August 1st. The auto parts company reported $0.31 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.80). The firm had revenue of $764.81 million for the quarter, compared to the consensus estimate of $832.61 million. Cooper-Standard had a return on equity of 7.13% and a net margin of 4.47%. The firm’s revenue was down 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.74 EPS. Sell-side analysts anticipate that Cooper-Standard will post 3.48 EPS for the current fiscal year.
Cooper-Standard Company Profile
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
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