Cooper-Standard (NYSE:CPS) Shares Gap Up – Here’s What Happened

Shares of Cooper-Standard Holdings Inc. (NYSE:CPS) gapped up before the market opened on Wednesday . The stock had previously closed at $27.85, but opened at $29.09. Cooper-Standard shares last traded at $28.9850, with a volume of 3,316 shares.

Wall Street Analyst Weigh In

CPS has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on Cooper-Standard from $55.00 to $53.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen lowered shares of Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Cooper-Standard in a research report on Friday, May 22nd. Finally, Zacks Research raised shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.33.

Cooper-Standard Stock Performance

The stock has a 50-day simple moving average of $28.50 and a 200 day simple moving average of $31.11. The stock has a market capitalization of $506.16 million, a P/E ratio of -13.08 and a beta of 1.99.

Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). The firm had revenue of $686.36 million during the quarter, compared to the consensus estimate of $660.00 million. Equities analysts predict that Cooper-Standard Holdings Inc. will post 3.12 earnings per share for the current year.

Institutional Trading of Cooper-Standard

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPS. Quantinno Capital Management LP lifted its position in Cooper-Standard by 53.4% during the 1st quarter. Quantinno Capital Management LP now owns 12,281 shares of the auto parts company’s stock valued at $342,000 after purchasing an additional 4,275 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Cooper-Standard by 60.9% during the first quarter. Public Employees Retirement System of Ohio now owns 19,981 shares of the auto parts company’s stock worth $557,000 after buying an additional 7,566 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Cooper-Standard by 15.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company’s stock valued at $8,662,000 after buying an additional 41,797 shares during the period. Sei Investments Co. lifted its holdings in Cooper-Standard by 200.8% in the first quarter. Sei Investments Co. now owns 35,113 shares of the auto parts company’s stock valued at $979,000 after buying an additional 23,440 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Cooper-Standard by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 408,205 shares of the auto parts company’s stock valued at $11,376,000 after acquiring an additional 23,620 shares during the last quarter. 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.