Cooper-Standard (NYSE:CPS) Shares Down 5.9% – Time to Sell?

Cooper-Standard Holdings Inc. (NYSE:CPS)’s stock price was down 5.9% during mid-day trading on Monday . The company traded as low as $30.08 and last traded at $29.5410. 11,257 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 198,890 shares. The stock had previously closed at $31.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CPS shares. Zacks Research lowered Cooper-Standard from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cooper-Standard in a report on Friday, May 22nd. Finally, Stifel Nicolaus cut their target price on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cooper-Standard has an average rating of “Reduce” and an average price target of $48.33.

Cooper-Standard Price Performance

The stock has a market capitalization of $487.84 million, a PE ratio of -8.75 and a beta of 2.00. The firm’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $30.74.

Cooper-Standard (NYSE:CPS) last issued its earnings results on Wednesday, August 5th. The auto parts company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.67). The company had revenue of $721.35 million during the quarter, compared to the consensus estimate of $708.90 million. Analysts expect that Cooper-Standard Holdings Inc. will post 2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper-Standard

Several institutional investors and hedge funds have recently modified their holdings of CPS. Arrowstreet Capital Limited Partnership grew its stake in shares of Cooper-Standard by 15.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company’s stock worth $8,662,000 after acquiring an additional 41,797 shares during the last quarter. Waystone Advisors LLC purchased a new position in shares of Cooper-Standard in the 4th quarter worth about $1,482,000. EVR Research LP boosted its stake in Cooper-Standard by 114.3% in the 4th quarter. EVR Research LP now owns 375,000 shares of the auto parts company’s stock worth $12,311,000 after purchasing an additional 200,000 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Cooper-Standard in the 1st quarter worth about $2,164,000. Finally, Dimensional Fund Advisors LP grew its position in Cooper-Standard by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 408,205 shares of the auto parts company’s stock valued at $11,376,000 after purchasing an additional 23,620 shares during the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

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.