Cooper-Standard (NYSE:CPS) Issues Quarterly Earnings Results, Misses Expectations By $0.78 EPS

Cooper-Standard (NYSE:CPS) released its earnings results on Thursday. The auto parts company reported ($1.73) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.78), Zacks reports.

Cooper-Standard Price Performance

CPS traded down $1.75 on Thursday, reaching $34.04. 172,709 shares of the company traded hands, compared to its average volume of 194,683. The company has a market cap of $600.54 million, a price-to-earnings ratio of 18.71 and a beta of 1.94. The stock’s 50 day moving average price is $32.80 and its 200-day moving average price is $32.84. Cooper-Standard has a 52-week low of $10.38 and a 52-week high of $40.67.

Hedge Funds Weigh In On Cooper-Standard

Several institutional investors and hedge funds have recently modified their holdings of CPS. Geneos Wealth Management Inc. increased its stake in shares of Cooper-Standard by 60.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 682 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Cooper-Standard by 136.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 1,432 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Cooper-Standard by 101.4% in the third quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock valued at $122,000 after purchasing an additional 1,658 shares in the last quarter. State of Wyoming acquired a new position in Cooper-Standard in the 4th quarter worth about $190,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Cooper-Standard during the 2nd quarter worth about $202,000. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their target price on Cooper-Standard from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Wall Street Zen downgraded Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Stifel Nicolaus upped their price objective on shares of Cooper-Standard from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings downgraded shares of Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Zacks Research upgraded shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cooper-Standard currently has an average rating of “Hold” and an average target price of $39.00.

About Cooper-Standard

Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.

Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.