Jefferies Group LLC set a $40.00 price objective on Cooper Tire & Rubber Company (NYSE:CTB) in a research note published on Monday. The firm currently has a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Standpoint Research raised Cooper Tire & Rubber from a hold rating to an accumulate rating in a research note on Tuesday, June 20th. Zacks Investment Research raised Cooper Tire & Rubber from a hold rating to a buy rating and set a $49.00 price objective for the company in a research note on Tuesday, April 25th. BidaskClub raised Cooper Tire & Rubber from a sell rating to a hold rating in a research note on Wednesday, July 19th. Finally, Northcoast Research cut Cooper Tire & Rubber from a buy rating to a neutral rating in a research note on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Cooper Tire & Rubber has a consensus rating of Hold and an average price target of $42.00.

Cooper Tire & Rubber (NYSE:CTB) traded down 0.919% during trading on Monday, hitting $35.025. The stock had a trading volume of 213,112 shares. The firm has a market capitalization of $1.85 billion, a P/E ratio of 8.663 and a beta of -0.02. The stock has a 50 day moving average of $36.67 and a 200 day moving average of $38.73. Cooper Tire & Rubber has a one year low of $33.11 and a one year high of $44.50.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The firm had revenue of $720.75 million during the quarter, compared to analysts’ expectations of $775 million. During the same quarter last year, the firm posted $1.27 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts expect that Cooper Tire & Rubber will post $3.40 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.105 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.19%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is currently 11.67%.

A number of hedge funds have recently modified their holdings of CTB. BlackRock Inc. raised its stake in shares of Cooper Tire & Rubber by 36,940.2% in the first quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock worth $255,971,000 after buying an additional 5,756,018 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cooper Tire & Rubber by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,079,701 shares of the company’s stock worth $136,583,000 after buying an additional 481,349 shares during the period. Royce & Associates LP raised its stake in shares of Cooper Tire & Rubber by 14.3% in the second quarter. Royce & Associates LP now owns 2,955,339 shares of the company’s stock worth $106,688,000 after buying an additional 369,045 shares during the period. Fairpointe Capital LLC raised its stake in shares of Cooper Tire & Rubber by 26.3% in the first quarter. Fairpointe Capital LLC now owns 2,940,825 shares of the company’s stock worth $130,426,000 after buying an additional 613,045 shares during the period. Finally, State Street Corp raised its stake in shares of Cooper Tire & Rubber by 57.0% in the first quarter. State Street Corp now owns 1,758,619 shares of the company’s stock worth $77,994,000 after buying an additional 638,424 shares during the period. Institutional investors and hedge funds own 94.58% of the company’s stock.

About Cooper Tire & Rubber

Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.

Analyst Recommendations for Cooper Tire & Rubber (NYSE:CTB)

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