Cooper-Standard (NYSE:CPS) Shares Gap Down – Time to Sell?

Cooper-Standard Holdings Inc. (NYSE:CPS) gapped down prior to trading on Tuesday . The stock had previously closed at $34.81, but opened at $33.00. Cooper-Standard shares last traded at $33.22, with a volume of 3,996 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CPS shares. Zacks Research cut shares of Cooper-Standard from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Cooper-Standard 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. Wall Street Zen downgraded Cooper-Standard from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Citigroup boosted their price objective on Cooper-Standard from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cooper-Standard has a consensus rating of “Hold” and a consensus target price of $39.00.

Cooper-Standard Stock Down 0.6%

The stock has a 50-day simple moving average of $32.19 and a two-hundred day simple moving average of $30.24. The firm has a market cap of $585.03 million, a PE ratio of 18.23 and a beta of 1.95.

Cooper-Standard (NYSE:CPS) last posted its quarterly earnings data on Friday, October 31st. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.74). The firm had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $698.83 million.

Insider Transactions at Cooper-Standard

In other news, Director David John Mastrocola bought 2,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $29.05 per share, with a total value of $58,100.00. Following the completion of the purchase, the director directly owned 18,115 shares in the company, valued at $526,240.75. This represents a 12.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cooper-Standard

A number of hedge funds have recently made changes to their positions in the business. Great Hill Capital LLC purchased a new stake in shares of Cooper-Standard in the 3rd quarter valued at $16,036,000. Arrowstreet Capital Limited Partnership raised its position in Cooper-Standard by 336.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 274,642 shares of the auto parts company’s stock worth $10,143,000 after purchasing an additional 211,768 shares during the period. Empowered Funds LLC bought a new stake in Cooper-Standard in the second quarter worth $3,798,000. EVR Research LP purchased a new stake in Cooper-Standard during the third quarter valued at about $6,463,000. Finally, Millennium Management LLC grew its stake in shares of Cooper-Standard by 89.9% during the first quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock valued at $4,765,000 after buying an additional 147,209 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors.

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.