Cooper-Standard (NYSE:CPS) Trading 7.1% Higher – Still a Buy?

Cooper-Standard Holdings Inc. (NYSE:CPS) shot up 7.1% during trading on Wednesday . The stock traded as high as $29.99 and last traded at $29.5110. Approximately 157,185 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 199,527 shares. The stock had previously closed at $27.55.

Wall Street Analysts Forecast Growth

CPS has been the subject of a number of recent research reports. Wall Street Zen downgraded Cooper-Standard from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cooper-Standard in a report on Friday, May 22nd. Stifel Nicolaus cut their price objective on shares of Cooper-Standard to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Zacks Research upgraded shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.33.

Cooper-Standard Trading Up 1.6%

The company has a market cap of $516.97 million, a P/E ratio of -13.36 and a beta of 1.99. The business has a 50 day moving average price of $28.61 and a 200-day moving average price of $31.21.

Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The company had revenue of $686.36 million for the quarter, compared to analyst estimates of $660.00 million. On average, sell-side analysts expect that Cooper-Standard Holdings Inc. will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CPS. Royal Bank of Canada increased its stake in shares of Cooper-Standard by 343.0% during the 1st quarter. Royal Bank of Canada now owns 25,628 shares of the auto parts company’s stock worth $393,000 after purchasing an additional 19,843 shares during the last quarter. AQR Capital Management LLC lifted its stake in Cooper-Standard by 1,345.8% in the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock valued at $2,321,000 after purchasing an additional 141,049 shares during the last quarter. Millennium Management LLC lifted its stake in Cooper-Standard by 89.9% in the 1st quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock valued at $4,765,000 after purchasing an additional 147,209 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cooper-Standard by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company’s stock valued at $3,286,000 after purchasing an additional 38,489 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in Cooper-Standard during the second quarter worth about $202,000. Institutional investors own 69.11% of the company’s stock.

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.