Zacks Research Downgrades Cooper-Standard (NYSE:CPS) to Strong Sell

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

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reduced their price objective on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen lowered Cooper-Standard from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cooper-Standard in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $48.33.

Cooper-Standard Stock Performance

NYSE CPS opened at $29.00 on Tuesday. The company has a market capitalization of $514.73 million, a price-to-earnings ratio of -13.30 and a beta of 1.99. The company’s 50-day simple moving average is $28.50 and its two-hundred day simple moving average is $31.09. Cooper-Standard has a one year low of $22.93 and a one year high of $47.98.

Cooper-Standard (NYSE:CPS) last posted its quarterly 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 firm had revenue of $686.36 million for the quarter, compared to analyst estimates of $660.00 million. Equities analysts expect that Cooper-Standard will post 2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cooper-Standard

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of Cooper-Standard by 60.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 682 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Cooper-Standard by 136.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 1,432 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Cooper-Standard by 101.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock worth $122,000 after buying an additional 1,658 shares during the last quarter. SG Americas Securities LLC purchased a new position in Cooper-Standard during the 4th quarter worth $154,000. Finally, CWM LLC increased its position in Cooper-Standard by 22.0% during the 4th quarter. CWM LLC now owns 5,246 shares of the auto parts company’s stock valued at $172,000 after buying an additional 945 shares in the last quarter. 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.