Cooper Tire & Rubber Co. (CTB) Shares Down 1.4%
Cooper Tire & Rubber Co. (NYSE:CTB) shares fell 1.4% during trading on Thursday . The stock traded as low as $33.60 and last traded at $34.07, with a volume of 190,293 shares traded. The stock had previously closed at $34.57.
Several brokerages have commented on CTB. FBR & Co reiterated a “buy” rating on shares of Cooper Tire & Rubber Co. in a report on Monday, May 2nd. Jefferies Group reissued a “hold” rating and issued a $37.00 price target (down from $41.00) on shares of Cooper Tire & Rubber Co. in a research report on Monday, May 2nd. Standpoint Research began coverage on shares of Cooper Tire & Rubber Co. in a research report on Friday, May 27th. They issued a “buy” rating and a $40.00 price target for the company. Goldman Sachs Group Inc. reissued a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Cooper Tire & Rubber Co. in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research raised shares of Cooper Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.30.
The firm has a market cap of $1.84 billion and a PE ratio of 7.91. The firm’s 50-day moving average is $32.54 and its 200 day moving average is $34.04.
Cooper Tire & Rubber Co. (NYSE:CTB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.20. The firm had revenue of $740 million for the quarter, compared to the consensus estimate of $751.81 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Cooper Tire & Rubber Co. will post $4.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.105 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.42 annualized dividend and a dividend yield of 1.24%.
A hedge fund recently raised its stake in Cooper Tire & Rubber Co. stock. Morgan Stanley increased its stake in Cooper Tire & Rubber Co. (NYSE:CTB) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 516,743 shares of the company’s stock after buying an additional 43,088 shares during the period. Morgan Stanley owned about 0.92% of Cooper Tire & Rubber Co. worth $19,558,000 as of its most recent filing with the SEC.
Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries sell medium truck, motorcycle and racing tires. It has four business segments: North America, composed of its operations in the United States and Canada; Latin America, composed of its operations in Mexico, Central America and South America; Europe, and Asia.