Cooper-Standard Holdings Inc. (CPS) Downgraded by Zacks Investment Research to “Hold”
Cooper-Standard Holdings Inc. (NYSE:CPS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Cooper-Standard Holdings Inc. operates as a supplier of systems and components for the automotive industry. Its products include sealing and trim, fuel and brake delivery, fluid transfer, thermal and emissions and anti-vibration systems. The company markets its products directly to automotive original equipment manufacturers, tier I and tier II suppliers, and non-automotive manufacturers. Cooper-Standard Holdings Inc. is headquartered in Novi, Michigan. “
Several other research firms have also recently issued reports on CPS. Goldman Sachs Group Inc. started coverage on Cooper-Standard Holdings in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $95.00 price target for the company. Bank of America Corp. cut Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 21st. Buckingham Research lowered Cooper-Standard Holdings from a “buy” rating to a “neutral” rating and upped their price objective for the company from $101.00 to $105.00 in a report on Tuesday, September 27th. Seaport Global Securities initiated coverage on Cooper-Standard Holdings in a report on Tuesday, August 9th. They issued a “buy” rating and a $108.00 price objective for the company. Finally, Roth Capital initiated coverage on Cooper-Standard Holdings in a report on Wednesday, July 6th. They issued a “buy” rating and a $105.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Cooper-Standard Holdings has an average rating of “Hold” and a consensus target price of $102.43.
Cooper-Standard Holdings (NYSE:CPS) traded down 0.46% during mid-day trading on Monday, reaching $100.50. The company had a trading volume of 147,613 shares. Cooper-Standard Holdings has a 12 month low of $62.97 and a 12 month high of $107.94. The stock’s 50-day moving average is $100.85 and its 200 day moving average is $87.16. The firm has a market capitalization of $1.74 billion, a P/E ratio of 14.83 and a beta of 0.62.
Cooper-Standard Holdings (NYSE:CPS) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.61. Cooper-Standard Holdings had a return on equity of 31.20% and a net margin of 3.68%. The company earned $879.30 million during the quarter, compared to analysts’ expectations of $875.98 million. The company’s revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Cooper-Standard Holdings will post $10.18 earnings per share for the current fiscal year.
In related news, insider Hill Advisors Genpar L.P. Oak sold 715,473 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $87.01, for a total value of $62,253,305.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Silver Point Capital L.P. sold 570,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $89.30, for a total value of $50,901,000.00. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
A number of large investors have recently made changes to their positions in CPS. Acrospire Investment Management LLC acquired a new stake in shares of Cooper-Standard Holdings during the first quarter valued at about $146,000. Pacad Investment Ltd. acquired a new stake in shares of Cooper-Standard Holdings during the second quarter valued at about $150,000. PNC Financial Services Group Inc. increased its stake in shares of Cooper-Standard Holdings by 8.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the company’s stock valued at $158,000 after buying an additional 156 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Cooper-Standard Holdings by 14.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,400 shares of the company’s stock valued at $190,000 after buying an additional 300 shares in the last quarter. Finally, Walleye Trading LLC increased its stake in shares of Cooper-Standard Holdings by 38.9% in the second quarter. Walleye Trading LLC now owns 2,500 shares of the company’s stock valued at $197,000 after buying an additional 700 shares in the last quarter. 96.91% of the stock is owned by hedge funds and other institutional investors.
Cooper-Standard Holdings Company Profile
Cooper-Standard Holdings Inc is a holding company. The Company, through its subsidiaries, manufactures sealing, fuel and brake delivery, fluid transfer and anti-vibration systems components for use in passenger vehicles and light trucks. The Company operates through four segments, which include North America, Europe, South America and Asia Pacific.
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