Principal Financial Group Inc. Acquires New Shares in Cooper-Standard Holdings Inc. $CPS

Principal Financial Group Inc. bought a new position in Cooper-Standard Holdings Inc. (NYSE:CPS) in the third quarter, HoldingsChannel reports. The institutional investor bought 18,119 shares of the auto parts company’s stock, valued at approximately $669,000.

Several other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Cooper-Standard by 343.0% during the first quarter. Royal Bank of Canada now owns 25,628 shares of the auto parts company’s stock valued at $393,000 after buying an additional 19,843 shares during the last quarter. AQR Capital Management LLC lifted its stake in Cooper-Standard by 1,345.8% during the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock valued at $2,321,000 after acquiring an additional 141,049 shares during the period. Millennium Management LLC boosted its holdings in shares of Cooper-Standard by 89.9% during the 1st quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock valued at $4,765,000 after acquiring an additional 147,209 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cooper-Standard by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company’s stock valued at $3,286,000 after purchasing an additional 38,489 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Cooper-Standard during the second quarter valued at approximately $1,261,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Cooper-Standard Trading Down 10.7%

Shares of NYSE:CPS opened at $38.95 on Thursday. The stock has a 50 day moving average of $33.91 and a 200 day moving average of $33.42. The company has a market cap of $687.11 million, a PE ratio of -162.30 and a beta of 1.94. Cooper-Standard Holdings Inc. has a 12-month low of $10.38 and a 12-month high of $47.98.

Cooper-Standard (NYSE:CPS) last issued its quarterly earnings results on Thursday, February 12th. The auto parts company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.78). The business had revenue of $672.37 million for the quarter, compared to analyst estimates of $641.51 million.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CPS. Zacks Research raised shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Wall Street Zen raised Cooper-Standard from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Citigroup increased their target price on Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a report on Wednesday. Stifel Nicolaus raised their target price on Cooper-Standard from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings downgraded Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.33.

Cooper-Standard Profile

Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.

Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.