Cooper-Standard Holdings Inc. (CPS) Sees Unusually-High Trading Volume
Shares of Cooper-Standard Holdings Inc. (NYSE:CPS) saw strong trading volume on Wednesday . 2,563,900 shares were traded during trading, an increase of 147% from the previous session’s volume of 1,037,302 shares.The stock last traded at $94.75 and had previously closed at $95.80.
A number of equities analysts have commented on the stock. Seaport Global Securities assumed coverage on shares of Cooper-Standard Holdings in a research report on Tuesday. They set a “buy” rating and a $108.00 price objective for the company. Zacks Investment Research raised shares of Cooper-Standard Holdings from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, August 3rd. Jefferies Group reduced their price objective on shares of Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Roth Capital assumed coverage on shares of Cooper-Standard Holdings in a research report on Wednesday, July 6th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Bank of America Corp. cut shares of Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $99.67.
The stock has a market capitalization of $1.64 billion and a P/E ratio of 13.98. The firm has a 50 day moving average price of $84.98 and a 200-day moving average price of $78.46.
Cooper-Standard Holdings (NYSE:CPS) last issued its earnings results on Thursday, July 28th. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.61. The firm had revenue of $879.30 million for the quarter, compared to analyst estimates of $875.98 million. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Cooper-Standard Holdings Inc. will post $10.18 EPS for the current fiscal year.
In related 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 value of $62,253,305.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Silver Point Capital L.P. sold 570,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $89.30, for a total value of $50,901,000.00. The disclosure for this sale can be found here.
A number of large investors recently added to or reduced their stakes in the stock. Matarin Capital Management LLC bought a new stake in Cooper-Standard Holdings during the fourth quarter worth approximately $3,870,000. Swiss National Bank bought a new stake in Cooper-Standard Holdings during the fourth quarter worth approximately $1,715,000. Bank of Montreal Can raised its stake in 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. Marshall Wace LLP acquired a new position in shares of Cooper-Standard Holdings during the fourth quarter worth about $1,211,000. Finally, New York State Common Retirement Fund increased 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 period.
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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