Northcoast Research Upgrades Cooper Tire & Rubber (NYSE:CTB) to Buy

Northcoast Research upgraded shares of Cooper Tire & Rubber (NYSE:CTB) from a neutral rating to a buy rating in a research note published on Wednesday, January 10th, MarketBeat.com reports. Northcoast Research also issued estimates for Cooper Tire & Rubber’s Q1 2018 earnings at $0.89 EPS, Q2 2018 earnings at $1.19 EPS, Q3 2018 earnings at $0.96 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.19 EPS.

A number of other equities research analysts also recently weighed in on CTB. Zacks Investment Research downgraded shares of Cooper Tire & Rubber from a hold rating to a sell rating in a research report on Tuesday, October 10th. Jefferies Group reiterated a hold rating and issued a $35.00 price target on shares of Cooper Tire & Rubber in a research report on Tuesday, October 31st. ValuEngine raised shares of Cooper Tire & Rubber from a hold rating to a buy rating in a research note on Thursday, November 30th. FBR & Co reissued a buy rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a research note on Tuesday, October 31st. Finally, B. Riley reissued a buy rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $45.29.

Shares of Cooper Tire & Rubber (NYSE:CTB) opened at $40.20 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.24. Cooper Tire & Rubber has a 1 year low of $31.55 and a 1 year high of $44.50. The stock has a market cap of $2,060.00, a P/E ratio of 10.36 and a beta of 0.07.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.33. Cooper Tire & Rubber had a net margin of 7.18% and a return on equity of 17.56%. The company had revenue of $733.80 million during the quarter, compared to the consensus estimate of $779.02 million. During the same period in the previous year, the business earned $1.04 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. sell-side analysts anticipate that Cooper Tire & Rubber will post 3.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a dividend of $0.105 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.04%. Cooper Tire & Rubber’s payout ratio is presently 10.82%.

Several hedge funds and other institutional investors have recently bought and sold shares of CTB. Riverhead Capital Management LLC grew its stake in shares of Cooper Tire & Rubber by 75.2% during the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock worth $145,000 after buying an additional 1,729 shares during the last quarter. Flinton Capital Management LLC grew its stake in shares of Cooper Tire & Rubber by 76.7% during the second quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock worth $161,000 after buying an additional 1,932 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Cooper Tire & Rubber by 6.8% during the second quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock worth $172,000 after buying an additional 304 shares during the last quarter. Worth Venture Partners LLC bought a new stake in shares of Cooper Tire & Rubber during the second quarter worth $235,000. Finally, M&T Bank Corp bought a new stake in shares of Cooper Tire & Rubber during the second quarter worth $243,000.

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About Cooper Tire & Rubber

Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.

Analyst Recommendations for Cooper Tire & Rubber (NYSE:CTB)

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