Cooper-Standard (NYSE:CPS) Trading Up 11.6% – Time to Buy?

Cooper-Standard Holdings Inc. (NYSE:CPS) shares shot up 11.6% on Wednesday . The company traded as high as $30.85 and last traded at $30.7570. 46,736 shares were traded during mid-day trading, a decline of 80% from the average session volume of 231,057 shares. The stock had previously closed at $27.57.

Wall Street Analysts Forecast Growth

CPS has been the subject of several analyst reports. Weiss Ratings lowered shares of Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. Wall Street Zen lowered shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Stifel Nicolaus increased their price objective on shares of Cooper-Standard from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Zacks Research upgraded shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Citigroup increased their price objective on shares of Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.33.

Cooper-Standard Stock Performance

The stock has a market cap of $541.28 million, a PE ratio of -127.88 and a beta of 2.00. The company’s 50 day simple moving average is $33.45 and its 200 day simple moving average is $33.11.

Cooper-Standard (NYSE:CPS) last released its earnings results on Friday, February 13th. The auto parts company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.78). The firm had revenue of $672.37 million for the quarter, compared to analysts’ expectations of $641.51 million.

Insider Buying and Selling at Cooper-Standard

In related news, Director David John Mastrocola bought 3,391 shares of Cooper-Standard stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $29.77 per share, with a total value of $100,950.07. Following the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $744,250. The trade was a 15.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 6,885 shares of company stock worth $208,144. 8.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CPS. Great Hill Capital LLC bought a new position in shares of Cooper-Standard during the 3rd quarter valued at approximately $16,036,000. Arrowstreet Capital Limited Partnership grew its position in shares of Cooper-Standard by 336.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 274,642 shares of the auto parts company’s stock valued at $10,143,000 after acquiring an additional 211,768 shares during the period. EVR Research LP grew its position in shares of Cooper-Standard by 114.3% during the 4th quarter. EVR Research LP now owns 375,000 shares of the auto parts company’s stock valued at $12,311,000 after acquiring an additional 200,000 shares during the period. Stifel Financial Corp grew its position in shares of Cooper-Standard by 255.3% during the 4th quarter. Stifel Financial Corp now owns 247,867 shares of the auto parts company’s stock valued at $8,137,000 after acquiring an additional 178,102 shares during the period. Finally, Millennium Management LLC grew its position 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 period. 69.11% of the stock is owned by institutional investors.

About Cooper-Standard

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.