Goldman Sachs Group Downgrades Cooper-Standard (NYSE:CPS) to Sell

Goldman Sachs Group downgraded shares of Cooper-Standard (NYSE:CPS) from a neutral rating to a sell rating in a research note published on Thursday morning, Benzinga reports. The firm currently has $36.00 price objective on the auto parts company’s stock, down from their prior price objective of $51.00.

CPS has been the topic of several other research reports. ValuEngine lowered shares of Cooper-Standard from a sell rating to a strong sell rating in a report on Wednesday, March 20th. Roth Capital cut their price target on shares of Cooper-Standard from $76.00 to $60.00 and set a buy rating on the stock in a report on Friday, May 3rd. Zacks Investment Research lowered shares of Cooper-Standard from a hold rating to a strong sell rating in a report on Tuesday, April 23rd. Seaport Global Securities initiated coverage on shares of Cooper-Standard in a report on Wednesday, February 13th. They issued a neutral rating on the stock. Finally, Bank of America restated an underperform rating and issued a $40.00 price target (down previously from $63.00) on shares of Cooper-Standard in a report on Wednesday, February 20th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $54.75.

NYSE CPS opened at $39.12 on Thursday. Cooper-Standard has a one year low of $36.11 and a one year high of $146.77. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.24 and a current ratio of 1.44. The company has a market capitalization of $734.01 million, a P/E ratio of 4.45 and a beta of 1.50.

Cooper-Standard (NYSE:CPS) last posted its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.33). Cooper-Standard had a net margin of 1.34% and a return on equity of 12.38%. The business had revenue of $880.00 million during the quarter, compared to analysts’ expectations of $887.56 million. During the same quarter in the previous year, the business posted $3.45 EPS. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts predict that Cooper-Standard will post 5.19 EPS for the current year.

In other news, insider Sharon Wenzl sold 600 shares of Cooper-Standard stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $52.62, for a total transaction of $31,572.00. Following the sale, the insider now owns 1,004 shares in the company, valued at $52,830.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey A. Debest acquired 1,750 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average price of $39.47 per share, for a total transaction of $69,072.50. Following the purchase, the insider now directly owns 2,500 shares of the company’s stock, valued at $98,675. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CPS. Norges Bank purchased a new stake in shares of Cooper-Standard during the fourth quarter valued at approximately $19,548,000. ArrowMark Colorado Holdings LLC raised its stake in shares of Cooper-Standard by 44.4% during the first quarter. ArrowMark Colorado Holdings LLC now owns 326,946 shares of the auto parts company’s stock valued at $15,353,000 after purchasing an additional 100,523 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cooper-Standard by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 985,834 shares of the auto parts company’s stock valued at $46,296,000 after purchasing an additional 72,341 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Cooper-Standard by 56.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 169,653 shares of the auto parts company’s stock valued at $7,967,000 after purchasing an additional 61,374 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Cooper-Standard by 92.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 92,442 shares of the auto parts company’s stock valued at $4,341,000 after purchasing an additional 44,340 shares during the period. Institutional investors own 95.99% of the company’s stock.

Cooper-Standard Company Profile

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.

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Analyst Recommendations for Cooper-Standard (NYSE:CPS)

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