Cooper-Standard (NYSE:CPS) Stock Price Down 8.5% on Analyst Downgrade

Cooper-Standard Holdings Inc (NYSE:CPS)’s share price was down 8.5% on Monday after Buckingham Research lowered their price target on the stock from $63.00 to $56.00. Buckingham Research currently has a buy rating on the stock. Cooper-Standard traded as low as $38.95 and last traded at $40.41, approximately 217,789 shares changed hands during trading. An increase of 18% from the average daily volume of 184,119 shares. The stock had previously closed at $44.16.

Several other equities analysts have also recently issued reports on CPS. Goldman Sachs Group cut Cooper-Standard from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $51.00 to $36.00 in a report on Thursday, June 13th. ValuEngine raised Cooper-Standard from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 24th. Zacks Investment Research cut Cooper-Standard from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 23rd. Finally, Roth Capital reduced their price target on Cooper-Standard from $76.00 to $60.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $48.00.

In other news, insider Jeffrey A. Debest acquired 1,750 shares of the business’s stock in a transaction on Friday, May 31st. The stock was bought at an average cost of $39.47 per share, for a total transaction of $69,072.50. Following the purchase, the insider now owns 2,500 shares in the company, valued at $98,675. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William Pumphrey acquired 5,320 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $39.00 per share, with a total value of $207,480.00. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. Executive Wealth Management LLC purchased a new stake in Cooper-Standard in the 2nd quarter worth approximately $40,000. Advisory Services Network LLC purchased a new stake in Cooper-Standard in the 2nd quarter worth approximately $102,000. Trellus Management Company LLC grew its stake in Cooper-Standard by 20.0% in the 2nd quarter. Trellus Management Company LLC now owns 30,000 shares of the auto parts company’s stock worth $1,375,000 after acquiring an additional 5,000 shares during the period. Janus Henderson Group PLC grew its stake in shares of Cooper-Standard by 22.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,090,338 shares of the auto parts company’s stock valued at $49,959,000 after buying an additional 198,071 shares during the period. Finally, Aperio Group LLC grew its stake in shares of Cooper-Standard by 96.6% during the 2nd quarter. Aperio Group LLC now owns 12,086 shares of the auto parts company’s stock valued at $554,000 after buying an additional 5,940 shares during the period. Institutional investors own 94.43% of the company’s stock.

The company’s 50 day simple moving average is $45.12. The company has a market capitalization of $773.77 million, a P/E ratio of 4.62 and a beta of 1.57. The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.86.

Cooper-Standard (NYSE:CPS) last announced its quarterly earnings data on Thursday, August 1st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.80). Cooper-Standard had a net margin of 4.47% and a return on equity of 7.30%. The company had revenue of $764.81 million for the quarter, compared to analysts’ expectations of $832.61 million. During the same period in the prior year, the firm earned $2.74 earnings per share. The firm’s quarterly revenue was down 17.6% on a year-over-year basis. On average, sell-side analysts predict that Cooper-Standard Holdings Inc will post 5.16 EPS for the current year.

About Cooper-Standard (NYSE:CPS)

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.

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