Zacks Research Upgrades Cooper-Standard (NYSE:CPS) to Hold

Cooper-Standard (NYSE:CPS) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on CPS. Citigroup increased their price target on shares of Cooper-Standard from $35.00 to $43.65 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Stifel Nicolaus lowered their target price on shares of Cooper-Standard to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Wall Street Zen lowered shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cooper-Standard presently has an average rating of “Hold” and an average price target of $49.33.

Cooper-Standard Stock Up 1.3%

Cooper-Standard stock opened at $30.45 on Tuesday. Cooper-Standard has a 52-week low of $19.32 and a 52-week high of $47.98. The firm has a market capitalization of $540.40 million, a price-to-earnings ratio of -13.97 and a beta of 2.00. The company has a fifty day simple moving average of $29.48 and a 200-day simple moving average of $31.91.

Cooper-Standard (NYSE:CPS) last announced its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The firm had revenue of $686.36 million for the quarter, compared to analysts’ expectations of $660.00 million. On average, research analysts anticipate that Cooper-Standard will post 3.12 EPS for the current fiscal year.

Insider Activity

In other news, Director David John Mastrocola bought 3,391 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $29.77 per share, for a total transaction of $100,950.07. Following the acquisition, the director owned 25,000 shares of the company’s stock, valued at $744,250. This trade represents a 15.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders bought 6,885 shares of company stock worth $208,144. 9.20% of the stock is currently owned by insiders.

Institutional Trading of Cooper-Standard

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its stake in Cooper-Standard by 60.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock worth $39,000 after buying an additional 682 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Cooper-Standard by 136.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock valued at $53,000 after buying an additional 1,432 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Cooper-Standard by 101.4% in the third quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock valued at $122,000 after buying an additional 1,658 shares during the period. AlphaQuest LLC lifted its holdings in shares of Cooper-Standard by 593.3% in the third quarter. AlphaQuest LLC now owns 3,307 shares of the auto parts company’s stock valued at $122,000 after buying an additional 2,830 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Cooper-Standard during the fourth quarter valued at $154,000. 69.11% of the stock is owned by institutional investors and hedge funds.

About Cooper-Standard

Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.

Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.