Cooper-Standard (NYSE:CPS) Releases Quarterly Earnings Results, Misses Expectations By $0.68 EPS

Cooper-Standard (NYSE:CPS) issued its quarterly earnings data on Wednesday. The auto parts company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.68), Zacks reports.

Cooper-Standard Trading Up 0.7%

NYSE:CPS traded up $0.22 during midday trading on Wednesday, hitting $30.98. 227,615 shares of the company traded hands, compared to its average volume of 154,502. The firm has a market capitalization of $549.82 million, a P/E ratio of -14.21 and a beta of 2.00. The firm’s fifty day moving average is $28.79 and its 200-day moving average is $30.81. Cooper-Standard has a 12-month low of $23.61 and a 12-month high of $47.98.

Institutional Investors Weigh In On Cooper-Standard

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in Cooper-Standard by 336.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 274,642 shares of the auto parts company’s stock valued at $10,143,000 after purchasing an additional 211,768 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Cooper-Standard by 255.3% in the fourth quarter. Stifel Financial Corp now owns 247,867 shares of the auto parts company’s stock worth $8,137,000 after buying an additional 178,102 shares during the period. Millennium Management LLC raised its holdings in shares of Cooper-Standard by 89.9% in the first quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock worth $4,765,000 after buying an additional 147,209 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cooper-Standard by 1,345.8% during the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock worth $2,321,000 after acquiring an additional 141,049 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Cooper-Standard during the 2nd quarter valued at $1,686,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPS. Stifel Nicolaus reduced their price target on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Finally, Zacks Research downgraded shares of Cooper-Standard from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Cooper-Standard has an average rating of “Reduce” and a consensus target price of $48.33.

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.