Cooper-Standard (NYSE:CPS) Releases Earnings Results, Misses Expectations By $0.78 EPS

Cooper-Standard (NYSE:CPS) posted its quarterly earnings results on Thursday. The auto parts company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.78), Zacks reports.

Cooper-Standard Price Performance

Shares of Cooper-Standard stock traded down $1.75 during midday trading on Thursday, reaching $34.04. The company had a trading volume of 176,531 shares, compared to its average volume of 195,155. The firm has a market cap of $600.54 million, a PE ratio of 18.71 and a beta of 1.94. The stock has a fifty day moving average price of $32.80 and a 200 day moving average price of $32.84. Cooper-Standard has a fifty-two week low of $10.38 and a fifty-two week high of $40.67.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings cut shares of Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen downgraded shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Citigroup raised their price target on Cooper-Standard from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Stifel Nicolaus upped their target price on Cooper-Standard from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Zacks Research upgraded Cooper-Standard from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. 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, the stock presently has an average rating of “Hold” and an average price target of $39.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in shares of 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 valued at $39,000 after acquiring an additional 682 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Cooper-Standard by 136.5% during 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 purchasing an additional 1,432 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Cooper-Standard by 101.4% during the third quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock valued at $122,000 after purchasing an additional 1,658 shares during the period. State of Wyoming bought a new position in shares of Cooper-Standard during the 4th quarter worth about $190,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Cooper-Standard in the 2nd quarter valued at about $202,000. 69.11% of the stock is owned by institutional investors.

Cooper-Standard Company Profile

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.