Cooper-Standard (NYSE:CPS) Shares Gap Up – Should You Buy?

Cooper-Standard Holdings Inc. (NYSE:CPS) gapped up before the market opened on Thursday . The stock had previously closed at $30.69, but opened at $34.00. Cooper-Standard shares last traded at $32.40, with a volume of 74,945 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Citigroup boosted their target price on shares of Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Zacks Research downgraded Cooper-Standard from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Stifel Nicolaus reduced their price objective on Cooper-Standard to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Weiss Ratings cut Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $49.33.

Cooper-Standard Stock Performance

The firm’s 50 day moving average is $31.19 and its 200-day moving average is $32.49. The stock has a market capitalization of $539.58 million, a price-to-earnings ratio of -126.66 and a beta of 2.00.

Cooper-Standard (NYSE:CPS) last released its quarterly earnings data on Wednesday, May 6th. The auto parts company reported ($0.29) earnings per share 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, sell-side analysts forecast that Cooper-Standard Holdings Inc. will post 2.72 earnings per share for the current year.

Insider Buying and Selling at Cooper-Standard

In other Cooper-Standard news, Director David John Mastrocola purchased 3,391 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $29.77 per share, for a total transaction of $100,950.07. Following the purchase, the director directly owned 25,000 shares in the company, valued at approximately $744,250. This trade represents a 15.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 6,885 shares of company stock valued at $208,144. 9.20% of the stock is owned by insiders.

Institutional Trading of Cooper-Standard

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Cooper-Standard by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 976,604 shares of the auto parts company’s stock worth $36,066,000 after buying an additional 29,800 shares during the period. Fiduciary Alliance LLC grew its stake in Cooper-Standard by 0.5% in the 1st quarter. Fiduciary Alliance LLC now owns 503,971 shares of the auto parts company’s stock valued at $15,376,000 after acquiring an additional 2,598 shares during the period. Great Hill Capital LLC purchased a new stake in Cooper-Standard in the 3rd quarter worth $16,036,000. Geode Capital Management LLC grew its position in shares of Cooper-Standard by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 422,689 shares of the auto parts company’s stock valued at $13,880,000 after purchasing an additional 13,143 shares during the period. Finally, EVR Research LP increased its stake in shares of Cooper-Standard by 114.3% during the fourth quarter. EVR Research LP now owns 375,000 shares of the auto parts company’s stock worth $12,311,000 after purchasing an additional 200,000 shares in the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Cooper-Standard Company Profile

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.