Cooper Tire & Rubber Co. (CTB) Trading 1.6% Higher
Cooper Tire & Rubber Co. (NYSE:CTB) shares traded up 1.6% during mid-day trading on Wednesday . The stock traded as high as $34.77 and last traded at $34.70, with a volume of 352,343 shares. The stock had previously closed at $34.16.
Several research analysts recently issued reports on the stock. FBR & Co reissued a “buy” rating on shares of Cooper Tire & Rubber Co. in a report on Monday, May 2nd. Standpoint Research initiated coverage on shares of Cooper Tire & Rubber Co. in a report on Friday, May 27th. They issued a “buy” rating and a $40.00 price objective for the company. Northcoast Research raised shares of Cooper Tire & Rubber Co. from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Tuesday, July 26th. Off Wall Street reaffirmed a “sell” rating on shares of Cooper Tire & Rubber Co. in a report on Tuesday, June 28th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $37.00 price objective (down previously from $41.00) on shares of Cooper Tire & Rubber Co. in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $39.30.
The company has a market cap of $1.85 billion and a price-to-earnings ratio of 7.97. The stock’s 50 day moving average is $32.44 and its 200 day moving average is $34.04.
Cooper Tire & Rubber Co. (NYSE:CTB) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.20. During the same quarter in the prior year, the business earned $1.03 EPS. The company earned $740 million during the quarter, compared to analysts’ expectations of $751.81 million. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Cooper Tire & Rubber Co. will post $4.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.23%.
Several institutional investors recently made changes to their positions in CTB. KBC Group NV increased its position 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 worth $2,297,000 after buying an additional 15,280 shares in the last quarter. Marshall Wace LLP acquired a new position in Cooper Tire & Rubber Co. during the fourth quarter valued at $2,320,000. Finally, Morgan Stanley increased its position in 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 during the period.
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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