Cooper-Standard (NYSE:CPS) Raised to Hold at Zacks Research

Cooper-Standard (NYSE:CPS) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Stifel Nicolaus decreased their target price on shares of Cooper-Standard to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Citigroup raised their target price on shares of Cooper-Standard from $35.00 to $43.65 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen cut shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. 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’s stock. According to MarketBeat.com, Cooper-Standard currently has a consensus rating of “Hold” and an average price target of $49.33.

Cooper-Standard Trading Up 1.3%

CPS opened at $30.45 on Tuesday. Cooper-Standard has a 12-month low of $19.32 and a 12-month high of $47.98. The company has a market cap of $540.40 million, a price-to-earnings ratio of -13.97 and a beta of 2.00. The company’s 50 day moving average is $29.48 and its 200 day moving average is $31.91.

Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). The business had revenue of $686.36 million for the quarter, compared to the consensus estimate of $660.00 million. As a group, analysts predict that Cooper-Standard will post 3.12 EPS for the current fiscal year.

Insider Activity

In related news, Director David John Mastrocola acquired 3,391 shares of Cooper-Standard stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $29.77 per share, for a total transaction of $100,950.07. Following the completion of the transaction, the director directly owned 25,000 shares in the company, valued at approximately $744,250. This represents a 15.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 6,885 shares of company stock worth $208,144 in the last quarter. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. purchased a new position in shares of Cooper-Standard in the third quarter valued at $669,000. Great Hill Capital LLC purchased a new position in shares of Cooper-Standard in the third quarter valued at $16,036,000. EVR Research LP purchased a new position in Cooper-Standard during the third quarter worth $6,463,000. Counterpoint Mutual Funds LLC purchased a new position in Cooper-Standard during the third quarter worth $517,000. Finally, JPMorgan Chase & Co. boosted its stake in Cooper-Standard by 173.4% during the third quarter. JPMorgan Chase & Co. now owns 44,564 shares of the auto parts company’s stock worth $1,646,000 after buying an additional 28,264 shares during the period. 69.11% of the stock is owned by hedge funds and other institutional investors.

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.