Zacks Investment Research upgraded shares of Cooper-Standard Holdings Inc. (NYSE:CPS) from a hold rating to a buy rating in a research note issued to investors on Monday morning. They currently have $129.00 target price on the auto parts company’s stock.
According to Zacks, “Cooper-Standard Holdings Inc. operates as a supplier of systems and components for the automotive industry. Its products include sealing and trim, fuel and brake delivery, fluid transfer, thermal and emissions and anti-vibration systems. The company markets its products directly to automotive original equipment manufacturers, tier I and tier II suppliers, and non-automotive manufacturers. Cooper-Standard Holdings Inc. is headquartered in Novi, Michigan. “
Several other equities analysts have also commented on the company. BidaskClub upgraded Cooper-Standard Holdings from a sell rating to a hold rating in a research note on Wednesday, July 12th. ValuEngine lowered Cooper-Standard Holdings from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. Finally, Bank of America Corporation restated an underperform rating and set a $85.00 price target (down previously from $94.00) on shares of Cooper-Standard Holdings in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Cooper-Standard Holdings presently has a consensus rating of Hold and a consensus price target of $111.20.
Shares of Cooper-Standard Holdings (NYSE CPS) traded down 0.30% during mid-day trading on Monday, hitting $114.42. 11,184 shares of the stock were exchanged. The firm has a market cap of $2.03 billion, a P/E ratio of 14.41 and a beta of 0.77. Cooper-Standard Holdings has a 12 month low of $82.50 and a 12 month high of $118.60. The stock’s 50 day moving average is $107.90 and its 200 day moving average is $106.19.
Cooper-Standard Holdings (NYSE:CPS) last released its earnings results on Thursday, August 3rd. The auto parts company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.02. The business had revenue of $909.10 million during the quarter, compared to the consensus estimate of $884.02 million. Cooper-Standard Holdings had a return on equity of 26.90% and a net margin of 4.22%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. Analysts expect that Cooper-Standard Holdings will post $10.70 EPS for the current fiscal year.
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In other news, major shareholder Silver Point Capital L.P. sold 110,500 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $105.42, for a total transaction of $11,648,910.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Aleksandra A. Miziolek sold 865 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $101.00, for a total value of $87,365.00. Following the transaction, the insider now owns 866 shares in the company, valued at approximately $87,466. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 341,865 shares of company stock worth $38,162,275. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in CPS. BlackRock Inc. grew its stake in Cooper-Standard Holdings by 6.3% in the second quarter. BlackRock Inc. now owns 2,205,700 shares of the auto parts company’s stock valued at $222,489,000 after purchasing an additional 129,820 shares during the last quarter. Vanguard Group Inc. grew its stake in Cooper-Standard Holdings by 3.5% in the second quarter. Vanguard Group Inc. now owns 2,036,130 shares of the auto parts company’s stock valued at $205,384,000 after purchasing an additional 68,126 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Cooper-Standard Holdings by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 815,147 shares of the auto parts company’s stock valued at $82,224,000 after purchasing an additional 21,750 shares during the last quarter. LSV Asset Management grew its stake in Cooper-Standard Holdings by 5.7% in the second quarter. LSV Asset Management now owns 801,719 shares of the auto parts company’s stock valued at $80,869,000 after purchasing an additional 43,200 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Cooper-Standard Holdings by 2,433.2% in the second quarter. Alliancebernstein L.P. now owns 526,902 shares of the auto parts company’s stock valued at $53,149,000 after purchasing an additional 506,102 shares during the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.
About Cooper-Standard Holdings
Cooper-Standard Holdings Inc is a holding company. The Company designs, manufactures and sells sealing, fuel and brake delivery, fluid transfer and anti-vibration systems for use in passenger vehicles and light trucks manufactured by global original equipment manufacturers (OEMs). The Company operates through four segments: North America, Europe, Asia Pacific and South America.
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