Cooper-Standard Holdings Inc. (CPS) Reaches New 12-Month High at $97.32
Cooper-Standard Holdings Inc. (NYSE:CPS) shares reached a new 52-week high on Thursday . The company traded as high as $97.32 and last traded at $95.95, with a volume of 150,988 shares changing hands. The stock had previously closed at $94.75.
A number of research analysts recently weighed in 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 target on the stock. Zacks Investment Research lowered shares of Cooper-Standard Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Jefferies Group lowered their price objective on shares of Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. Bank of America Corp. lowered shares of Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Cooper-Standard Holdings in a research report on Tuesday, June 14th. They issued a “neutral” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $99.67.
The firm has a market cap of $1.68 billion and a P/E ratio of 14.36. The stock’s 50 day moving average is $85.31 and its 200-day moving average is $78.58.
Cooper-Standard Holdings (NYSE:CPS) last released its earnings results on Thursday, July 28th. The company reported $2.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.61. The business earned $879.30 million during the quarter, compared to analysts’ expectations of $875.98 million. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Cooper-Standard Holdings Inc. will post $10.18 EPS for the current year.
In related news, insider Hill Advisors Genpar L.P. Oak sold 715,473 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $87.01, for a total transaction of $62,253,305.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Silver Point Capital L.P. sold 339,362 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $95.41, for a total transaction of $32,378,528.42. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in the stock. Matarin Capital Management LLC purchased a new stake in shares of Cooper-Standard Holdings during the fourth quarter valued at approximately $3,870,000. Marshall Wace LLP purchased a new stake in shares of Cooper-Standard Holdings during the fourth quarter valued at approximately $1,211,000. Bank of Montreal Can increased its stake 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 valued at $1,544,000 after buying an additional 16,593 shares during the period. New York State Common Retirement Fund increased its stake 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 valued at $1,594,000 after buying an additional 3,061 shares during the period. Finally, Rhumbline Advisers increased its stake 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 valued at $1,361,000 after buying an additional 190 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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