Cooper-Standard (NYSE:CPS) Hits New 12-Month High – Here’s What Happened

Cooper-Standard Holdings Inc. (NYSE:CPS) shares hit a new 52-week high on Friday . The company traded as high as $43.34 and last traded at $42.3850, with a volume of 149677 shares trading hands. The stock had previously closed at $34.15.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CPS shares. Citigroup increased their price objective on Cooper-Standard from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, December 15th. Stifel Nicolaus boosted their price target on Cooper-Standard from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings cut Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Zacks Research raised Cooper-Standard from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Wall Street Zen downgraded shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.00.

Cooper-Standard Price Performance

The company has a 50-day moving average of $32.88 and a two-hundred day moving average of $32.85. The company has a market capitalization of $790.45 million, a PE ratio of 24.53 and a beta of 1.94.

Cooper-Standard (NYSE:CPS) last announced its quarterly earnings data on Thursday, February 12th. The auto parts company reported ($1.73) earnings per share (EPS) 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its stake in 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 purchasing an additional 19,843 shares in the last quarter. AQR Capital Management LLC raised its position in Cooper-Standard by 1,345.8% in the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock worth $2,321,000 after purchasing an additional 141,049 shares during the period. Millennium Management LLC lifted its stake in Cooper-Standard by 89.9% in 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 last quarter. Goldman Sachs Group Inc. boosted its position 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 buying an additional 38,489 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Cooper-Standard during the second quarter valued at approximately $1,261,000. 69.11% of the stock is owned by hedge funds and other 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.