Cooper Tire & Rubber (CTB) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Cooper Tire & Rubber (NYSE:CTB) from a hold rating to a buy rating in a report issued on Friday. They currently have $44.00 target price on the stock.

According to Zacks, “The Zacks Consensus Estimate for Cooper Tire & Rubber Co.’s annual earnings has been going up of late. The company continues to expand its product portfolio with a focus to satisfy the market demand in all regions. It is also expanding its presence in Asia and Latin America through acquisitions and opening new sales offices. Also, it intends to reduce its manufacturing costs through increased automation in production facilities and consolidation of product family, which is expected to have a positive impact in its financials. Moreover, a strong balance sheet and frequent share repurchases by the company will boost shareholders value. Also, in the last six months, Cooper Tire & Rubber Co.’s shares have outperformed the industry it belongs to.”

Several other brokerages have also recently issued reports on CTB. FBR & Co restated a buy rating and issued a $50.00 target price on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. Northcoast Research upgraded Cooper Tire & Rubber from a neutral rating to a buy rating in a report on Wednesday, January 10th. Jefferies Group restated a hold rating and issued a $35.00 target price on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. B. Riley restated a buy rating and issued a $50.00 target price on shares of Cooper Tire & Rubber in a report on Monday, December 11th. Finally, ValuEngine upgraded Cooper Tire & Rubber from a hold rating to a buy rating in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $45.29.

Shares of Cooper Tire & Rubber (NYSE CTB) traded up $0.15 on Friday, hitting $39.85. The company had a trading volume of 533,400 shares, compared to its average volume of 782,678. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.67 and a quick ratio of 1.59. Cooper Tire & Rubber has a 52-week low of $31.55 and a 52-week high of $44.50. The stock has a market capitalization of $2,040.00, a PE ratio of 10.27 and a beta of 0.07.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, November 30th. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 10.82%.

Institutional investors have recently made changes to their positions in the company. Riverhead Capital Management LLC lifted its stake in shares of Cooper Tire & Rubber by 75.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock valued at $145,000 after purchasing an additional 1,729 shares during the last quarter. Flinton Capital Management LLC lifted its stake in shares of Cooper Tire & Rubber by 76.7% in the 2nd quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock valued at $161,000 after purchasing an additional 1,932 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Cooper Tire & Rubber by 6.8% in the 2nd quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock valued at $172,000 after purchasing an additional 304 shares during the last quarter. Worth Venture Partners LLC acquired a new position in shares of Cooper Tire & Rubber in the 2nd quarter valued at $235,000. Finally, M&T Bank Corp acquired a new position in shares of Cooper Tire & Rubber in the 2nd quarter valued at $243,000.

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Cooper Tire & Rubber Company Profile

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.

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

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