Cooper Tire & Rubber Co. (CTB) Shares Up 1.6%
Shares of Cooper Tire & Rubber Co. (NYSE:CTB) shot up 1.6% during trading on Wednesday . The company traded as high as $34.77 and last traded at $34.70, with a volume of 352,343 shares changing hands. The stock had previously closed at $34.16.
A number of brokerages have recently commented on CTB. FBR & Co restated a “buy” rating on shares of Cooper Tire & Rubber Co. in a report on Monday, May 2nd. Standpoint Research began coverage on Cooper Tire & Rubber Co. in a report on Friday, May 27th. They issued a “buy” rating and a $40.00 price target on the stock. Northcoast Research upgraded Cooper Tire & Rubber Co. from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Tuesday, July 26th. Off Wall Street restated a “sell” rating on shares of Cooper Tire & Rubber Co. in a report on Tuesday, June 28th. Finally, Jefferies Group restated a “hold” rating and issued a $37.00 price target (down from $41.00) on shares of Cooper Tire & Rubber Co. in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.30.
The firm has a market cap of $1.87 billion and a PE ratio of 8.06. The stock’s 50 day moving average is $32.32 and its 200-day moving average is $34.04.
Cooper Tire & Rubber Co. (NYSE:CTB) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.20. The business had revenue of $740 million for the quarter, compared to analyst estimates of $751.81 million. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. Equities research analysts forecast that Cooper Tire & Rubber Co. will post $4.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.105 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.42 dividend on an annualized basis and a yield of 1.21%.
A number of hedge funds have modified their holdings of CTB. King Luther Capital Management Corp increased its stake in shares of Cooper Tire & Rubber Co. by 19,726.1% in the fourth quarter. King Luther Capital Management Corp now owns 1,665,390 shares of the company’s stock worth $63,301,000 after buying an additional 1,656,990 shares during the last quarter. Morgan Stanley increased its stake in shares of Cooper Tire & Rubber Co. by 9.1% in the fourth quarter. Morgan Stanley now owns 516,743 shares of the company’s stock valued at $19,558,000 after buying an additional 43,088 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Cooper Tire & Rubber Co. during the fourth quarter valued at approximately $2,320,000. Finally, KBC Group NV increased its stake in shares of Cooper Tire & Rubber Co. by 33.7% in the fourth quarter. KBC Group NV now owns 60,677 shares of the company’s stock valued at $2,297,000 after buying an additional 15,280 shares in the last quarter.
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.
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