Cooper Tire & Rubber (CTB) Downgraded by ValuEngine to “Hold”
ValuEngine cut shares of Cooper Tire & Rubber (NYSE:CTB) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
CTB has been the topic of several other reports. Zacks Investment Research upgraded Cooper Tire & Rubber from a sell rating to a hold rating in a research report on Friday, March 2nd. B. Riley restated a buy rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a research report on Monday, December 11th. Longbow Research started coverage on Cooper Tire & Rubber in a research report on Wednesday, January 31st. They issued a buy rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Cooper Tire & Rubber from $43.00 to $40.00 and set an overweight rating on the stock in a research report on Wednesday, February 21st. Finally, TheStreet downgraded Cooper Tire & Rubber from a b rating to a c rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Cooper Tire & Rubber presently has a consensus rating of Hold and a consensus target price of $43.63.
Cooper Tire & Rubber (NYSE:CTB) opened at $32.00 on Wednesday. The firm has a market capitalization of $1,625.54, a price-to-earnings ratio of 17.98 and a beta of 0.38. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.25. Cooper Tire & Rubber has a 52-week low of $30.55 and a 52-week high of $44.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be given a $0.105 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.42 annualized dividend and a dividend yield of 1.31%. Cooper Tire & Rubber’s payout ratio is 23.60%.
Several institutional investors have recently made changes to their positions in the company. Elkfork Partners LLC purchased a new position in shares of Cooper Tire & Rubber in the fourth quarter valued at about $168,000. BRYN MAWR TRUST Co lifted its position in shares of Cooper Tire & Rubber by 3.3% in the fourth quarter. BRYN MAWR TRUST Co now owns 132,263 shares of the company’s stock worth $4,675,000 after buying an additional 4,257 shares in the last quarter. Fairpointe Capital LLC lifted its position in shares of Cooper Tire & Rubber by 5.2% in the fourth quarter. Fairpointe Capital LLC now owns 3,901,156 shares of the company’s stock worth $137,905,000 after buying an additional 194,152 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Cooper Tire & Rubber in the fourth quarter worth about $2,020,000. Finally, Eii Capital Management Inc. purchased a new stake in shares of Cooper Tire & Rubber in the fourth quarter worth about $1,778,000.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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