Short Interest in Cooper-Standard Holdings Inc (NYSE:CPS) Increases By 7.7%
Cooper-Standard Holdings Inc (NYSE:CPS) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,050,000 shares, an increase of 7.7% from the December 15th total of 974,900 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily trading volume, of 264,300 shares, the days-to-cover ratio is currently 4.0 days.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Cooper-Standard by 2.7% in the second quarter. BlackRock Inc. now owns 2,539,899 shares of the auto parts company’s stock valued at $116,379,000 after purchasing an additional 66,366 shares in the last quarter. Vanguard Group Inc. grew its position in Cooper-Standard by 1.6% in the second quarter. Vanguard Group Inc. now owns 1,801,466 shares of the auto parts company’s stock worth $82,543,000 after acquiring an additional 28,288 shares during the period. State Street Corp grew its position in Cooper-Standard by 2.2% in the third quarter. State Street Corp now owns 515,571 shares of the auto parts company’s stock worth $21,077,000 after acquiring an additional 11,075 shares during the period. Schroder Investment Management Group grew its position in Cooper-Standard by 5.2% in the second quarter. Schroder Investment Management Group now owns 328,838 shares of the auto parts company’s stock worth $15,067,000 after acquiring an additional 16,344 shares during the period. Finally, Northern Trust Corp grew its position in Cooper-Standard by 2.0% in the second quarter. Northern Trust Corp now owns 311,581 shares of the auto parts company’s stock worth $14,277,000 after acquiring an additional 6,219 shares during the period. Institutional investors own 98.20% of the company’s stock.
A number of equities analysts recently weighed in on CPS shares. Benchmark started coverage on Cooper-Standard in a report on Thursday, January 9th. They issued a “hold” rating for the company. ValuEngine cut Cooper-Standard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Buckingham Research cut Cooper-Standard from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $32.00 in a report on Wednesday, October 16th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $47.00 price target on shares of Cooper-Standard in a report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.75.
Cooper-Standard (NYSE:CPS) last posted its quarterly earnings data on Tuesday, November 5th. The auto parts company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($1.13). Cooper-Standard had a return on equity of 4.41% and a net margin of 3.23%. The firm had revenue of $729.02 million for the quarter, compared to analysts’ expectations of $688.47 million. During the same quarter last year, the firm posted $1.05 earnings per share. Cooper-Standard’s quarterly revenue was down 15.4% on a year-over-year basis. On average, research analysts forecast that Cooper-Standard will post 0.06 earnings per share for the current year.
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
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