Short Interest in Cooper-Standard Holdings Inc. (CPS) Decreases By 38.0%
Cooper-Standard Holdings Inc. (NYSE:CPS) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 394,247 shares, a decrease of 38.0% from the August 15th total of 635,497 shares. Based on an average daily volume of 202,394 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.3% of the shares of the company are short sold.
In other Cooper-Standard Holdings news, insider Hill Advisors Genpar L.P. Oak sold 715,473 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $87.01, for a total transaction of $62,253,305.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Keith Dwayne Stephenson sold 42,940 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $98.03, for a total value of $4,209,408.20. Following the transaction, the vice president now owns 31,788 shares of the company’s stock, valued at $3,116,177.64. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CPS. Malaga Cove Capital LLC increased its stake in Cooper-Standard Holdings by 52.9% in the first quarter. Malaga Cove Capital LLC now owns 32,684 shares of the company’s stock valued at $2,348,000 after buying an additional 11,310 shares during the period. Teachers Advisors Inc. increased its stake in Cooper-Standard Holdings by 13.4% in the first quarter. Teachers Advisors Inc. now owns 22,120 shares of the company’s stock valued at $1,589,000 after buying an additional 2,616 shares during the period. Prudential Financial Inc. increased its stake in Cooper-Standard Holdings by 112.9% in the first quarter. Prudential Financial Inc. now owns 48,214 shares of the company’s stock valued at $3,463,000 after buying an additional 25,564 shares during the period. Algert Global LLC increased its stake in Cooper-Standard Holdings by 320.9% in the first quarter. Algert Global LLC now owns 20,078 shares of the company’s stock valued at $1,442,000 after buying an additional 15,308 shares during the period. Finally, BlackRock Group LTD increased its stake in Cooper-Standard Holdings by 72.2% in the first quarter. BlackRock Group LTD now owns 11,770 shares of the company’s stock valued at $846,000 after buying an additional 4,934 shares during the period. Institutional investors own 96.91% of the company’s stock.
CPS has been the subject of several recent analyst reports. Goldman Sachs Group Inc. initiated coverage on Cooper-Standard Holdings in a research note on Tuesday, June 14th. They set a “neutral” rating and a $95.00 price objective for the company. Bank of America Corp. lowered Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 21st. Roth Capital initiated coverage on Cooper-Standard Holdings in a research note on Wednesday, July 6th. They set a “buy” rating and a $105.00 price objective for the company. Zacks Investment Research lowered Cooper-Standard Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group dropped their price objective on Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $101.33.
Shares of Cooper-Standard Holdings (NYSE:CPS) opened at 107.41 on Friday. Cooper-Standard Holdings has a one year low of $54.54 and a one year high of $107.94. The stock’s 50 day moving average price is $98.77 and its 200 day moving average price is $84.97. The company has a market cap of $1.86 billion, a PE ratio of 15.85 and a beta of 0.62.
Cooper-Standard Holdings (NYSE:CPS) last issued its earnings results on Thursday, July 28th. The company reported $2.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.61. Cooper-Standard Holdings had a return on equity of 31.20% and a net margin of 3.68%. The company earned $879.30 million during the quarter, compared to the consensus estimate of $875.98 million. Cooper-Standard Holdings’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Cooper-Standard Holdings will post $10.18 earnings per share for the current fiscal year.
About Cooper-Standard Holdings
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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