Zacks Research Upgrades Cooper-Standard (NYSE:CPS) to Hold

Cooper-Standard (NYSE:CPS) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on CPS. Stifel Nicolaus dropped their price target on Cooper-Standard to $55.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Wall Street Zen cut Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cooper-Standard in a report on Friday, May 22nd. Finally, Citigroup raised their price target on Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.33.

Cooper-Standard Stock Performance

Shares of NYSE CPS opened at $30.45 on Tuesday. The firm has a market cap of $540.40 million, a price-to-earnings ratio of -13.97 and a beta of 2.00. Cooper-Standard has a 52 week low of $19.32 and a 52 week high of $47.98. The business’s 50-day simple moving average is $29.48 and its 200-day simple moving average is $31.91.

Cooper-Standard (NYSE:CPS) last posted its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The company had revenue of $686.36 million during the quarter, compared to analyst estimates of $660.00 million. As a group, equities research analysts forecast that Cooper-Standard will post 3.12 earnings per share for the current year.

Insider Buying and Selling at Cooper-Standard

In other news, Director David John Mastrocola bought 3,391 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $29.77 per share, for a total transaction of $100,950.07. Following the completion of the transaction, the director directly owned 25,000 shares in the company, valued at $744,250. The trade was a 15.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 6,885 shares of company stock worth $208,144 in the last ninety days. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Cooper-Standard

A number of institutional investors and hedge funds have recently made changes to their positions in CPS. Great Hill Capital LLC bought a new stake in shares of Cooper-Standard during the third quarter worth $16,036,000. Arrowstreet Capital Limited Partnership raised its position in shares of Cooper-Standard by 336.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 274,642 shares of the auto parts company’s stock worth $10,143,000 after acquiring an additional 211,768 shares during the last quarter. EVR Research LP raised its position in shares of Cooper-Standard by 114.3% during the fourth quarter. EVR Research LP now owns 375,000 shares of the auto parts company’s stock worth $12,311,000 after acquiring an additional 200,000 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Cooper-Standard by 255.3% during the fourth quarter. Stifel Financial Corp now owns 247,867 shares of the auto parts company’s stock worth $8,137,000 after purchasing an additional 178,102 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Cooper-Standard by 89.9% during the first quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock worth $4,765,000 after purchasing an additional 147,209 shares during the period. Institutional investors own 69.11% of the company’s stock.

Cooper-Standard Company 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.