Cooper-Standard Holdings Inc. (CPS) Stock Price Up 2.8%
Shares of Cooper-Standard Holdings Inc. (NYSE:CPS) rose 2.8% during mid-day trading on Monday . The company traded as high as $90.75 and last traded at $90.50, with a volume of 349,715 shares traded. The stock had previously closed at $88.05.
CPS has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Cooper-Standard Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Goldman Sachs Group Inc. initiated coverage on shares of Cooper-Standard Holdings in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $95.00 price target for the company. Bank of America Corp. lowered shares of Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 21st. Roth Capital assumed coverage on shares of Cooper-Standard Holdings in a research note on Wednesday, July 6th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Jefferies Group lowered their target price on shares of Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $93.60.
The stock has a market capitalization of $1.52 billion and a P/E ratio of 12.96. The stock’s 50-day moving average is $83.45 and its 200 day moving average is $77.57.
Cooper-Standard Holdings (NYSE:CPS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.61. The business earned $879.30 million during the quarter, compared to the consensus estimate of $875.98 million. Cooper-Standard Holdings’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Cooper-Standard Holdings Inc. will post $9.92 EPS for the current year.
In other news, major shareholder Silver Point Capital L.P. sold 570,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $89.30, for a total value of $50,901,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Several hedge funds and institutional investors have recently modified their holdings of CPS. Marshall Wace LLP purchased a new position in shares of Cooper-Standard Holdings during the fourth quarter worth approximately $1,211,000. Rhumbline Advisers raised its position in shares of Cooper-Standard Holdings by 1.1% in the fourth quarter. Rhumbline Advisers now owns 17,537 shares of the company’s stock worth $1,361,000 after buying an additional 190 shares during the last quarter. Bank of Montreal Can raised its position in shares of Cooper-Standard Holdings by 504.3% in the fourth quarter. Bank of Montreal Can now owns 19,883 shares of the company’s stock worth $1,544,000 after buying an additional 16,593 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Cooper-Standard Holdings by 17.5% in the fourth quarter. New York State Common Retirement Fund now owns 20,541 shares of the company’s stock worth $1,594,000 after buying an additional 3,061 shares during the last quarter. Finally, Swiss National Bank purchased a new position in shares of Cooper-Standard Holdings during the fourth quarter worth approximately $1,715,000.
Cooper-Standard Holdings Inc is a holding company. The Company, through its subsidiaries, manufactures sealing, fuel and brake delivery, fluid transfer and anti-vibration systems components for use in passenger vehicles and light trucks. The Company operates through four segments, which include North America, Europe, South America and Asia Pacific.
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