Cooper-Standard (NYSE:CPS) Announces Earnings Results

Cooper-Standard (NYSE:CPS) issued its earnings results on Wednesday. The auto parts company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.68), Zacks reports. The company had revenue of $721.35 million for the quarter, compared to the consensus estimate of $708.90 million.

Cooper-Standard Stock Performance

CPS traded up $4.36 on Friday, hitting $31.99. The company had a trading volume of 100,315 shares, compared to its average volume of 198,012. The stock has a fifty day moving average price of $28.73 and a 200-day moving average price of $30.78. Cooper-Standard has a 12-month low of $23.61 and a 12-month high of $47.98. The stock has a market capitalization of $567.82 million, a price-to-earnings ratio of -10.23 and a beta of 2.00.

Institutional Investors Weigh In On Cooper-Standard

A number of large investors have recently modified their holdings of CPS. Vanguard Group Inc. raised its stake in shares of Cooper-Standard by 3.1% in the third quarter. Vanguard Group Inc. now owns 976,604 shares of the auto parts company’s stock worth $36,066,000 after purchasing an additional 29,800 shares during the last quarter. Geode Capital Management LLC grew its position in Cooper-Standard by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 422,689 shares of the auto parts company’s stock valued at $13,880,000 after buying an additional 13,143 shares during the period. Millennium Management LLC raised its holdings in Cooper-Standard by 89.9% in the 1st 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. Arrowstreet Capital Limited Partnership raised its stake 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 worth $10,143,000 after buying an additional 211,768 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Cooper-Standard by 255.3% during the fourth quarter. Stifel Financial Corp now owns 247,867 shares of the auto parts company’s stock valued at $8,137,000 after purchasing an additional 178,102 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Analyst Ratings Changes

CPS has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Stifel Nicolaus reduced their price target on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Zacks Research cut shares of Cooper-Standard from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $48.33.

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.