Cooper-Standard (NYSE:CPS) Stock Price Up 11.2% – Here’s What Happened
by Scott Moore · The Cerbat GemCooper-Standard Holdings Inc. (NYSE:CPS – Get Free Report) was up 11.2% on Friday . The stock traded as high as $32.76 and last traded at $32.8560. Approximately 65,431 shares changed hands during trading, a decline of 71% from the average daily volume of 226,642 shares. The stock had previously closed at $29.55.
Analysts Set New Price Targets
Several equities analysts have weighed in on CPS shares. Weiss Ratings lowered Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. Citigroup raised their target price on Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Stifel Nicolaus cut their target price on Cooper-Standard to $55.00 and set a “buy” rating on the stock in a report on Tuesday. Wall Street Zen lowered Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Zacks Research upgraded Cooper-Standard from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cooper-Standard has an average rating of “Hold” and an average target price of $49.33.
Check Out Our Latest Stock Report on CPS
Cooper-Standard Price Performance
The business has a 50 day moving average price of $33.12 and a 200 day moving average price of $32.82. The firm has a market capitalization of $561.77 million, a P/E ratio of -131.83 and a beta of 2.00.
Cooper-Standard (NYSE:CPS – Get Free Report) last posted its quarterly earnings data on Friday, February 13th. The auto parts company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.78). The firm had revenue of $672.37 million during the quarter, compared to analyst estimates of $641.51 million.
Insider Activity at Cooper-Standard
In other Cooper-Standard news, Director David John Mastrocola acquired 3,391 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $29.77 per share, for a total transaction of $100,950.07. Following the completion of the purchase, the director owned 25,000 shares of the company’s stock, valued at approximately $744,250. This trade represents a 15.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 6,885 shares of company stock valued at $208,144 in the last 90 days. Insiders own 9.20% of the company’s stock.
Hedge Funds Weigh In On Cooper-Standard
A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in Cooper-Standard during the third quarter worth about $30,000. Geneos Wealth Management Inc. grew its position in Cooper-Standard by 60.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock worth $39,000 after buying an additional 682 shares in the last quarter. Tower Research Capital LLC TRC grew 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 worth $53,000 after buying an additional 1,432 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Cooper-Standard during the third quarter worth about $57,000. Finally, Abound Wealth Management acquired a new stake in Cooper-Standard during the third quarter worth about $116,000. 69.11% of the stock is currently owned by 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.