Citigroup Has Lowered Expectations for Cooper-Standard (NYSE:CPS) Stock Price

Key Points

• Citigroup cut its Cooper-Standard price target from $25 to $19 and maintained a neutral rating, implying just 2.29% upside from the stock’s then-current price. Analysts overall had a “Reduce” consensus rating and a $25.50 average target.
• Cooper-Standard reported quarterly EPS of a loss of $0.11, missing the $0.74 consensus estimate, while revenue of $708.59 million slightly exceeded expectations.
• Shares rose 3.6% on Monday to $18.57, but remained below their 50-day and 200-day moving averages.

Cooper-Standard (NYSE:CPS - Get Free Report) had its price objective decreased by equities researchers at Citigroup from $25.00 to $19.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the auto parts company's stock. Citigroup's target price points to a potential upside of 2.29% from the company's current price.

A number of other brokerages also recently commented on CPS. Zacks Research downgraded Cooper-Standard from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 20th. Weiss Ratings upgraded shares of Cooper-Standard from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, October 27th. Finally, Stifel Nicolaus cut their price target on shares of Cooper-Standard from $53.00 to $32.00 and set a "buy" rating on the stock in a report on Monday, October 19th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $25.50.

Cooper-Standard Stock Up 3.6%

Shares of NYSE:CPS traded up $0.65 during midday trading on Monday, hitting $18.57. 183,479 shares of the stock traded hands, compared to its average volume of 221,824. The business's 50 day moving average is $22.22 and its two-hundred day moving average is $28.39. The stock has a market capitalization of $330.08 million, a PE ratio of -4.83 and a beta of 2.03. Cooper-Standard has a one year low of $16.91 and a one year high of $47.98.

Cooper-Standard (NYSE:CPS - Get Free Report) last posted its earnings results on Wednesday, November 4th. The auto parts company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.85). The company had revenue of $708.59 million during the quarter, compared to the consensus estimate of $704.13 million. As a group, sell-side analysts forecast that Cooper-Standard will post 0.71 earnings per share for the current year.

Institutional Trading of Cooper-Standard

Several large investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in Cooper-Standard during the second quarter valued at $47,000. State of Wyoming bought a new stake in shares of Cooper-Standard during the 2nd quarter valued at $127,000. Hsbc Holdings PLC purchased a new stake in shares of Cooper-Standard in the 2nd quarter worth about $205,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Cooper-Standard in the 2nd quarter worth about $253,000. Finally, Quantinno Capital Management LP grew its position in shares of Cooper-Standard by 53.4% in the 1st quarter. Quantinno Capital Management LP now owns 12,281 shares of the auto parts company's stock worth $342,000 after buying an additional 4,275 shares during the period. 69.11% of the stock is owned by institutional investors.

About Cooper-Standard

Cooper-Standard Holdings Inc is an automotive supplier that develops and manufactures systems and components used by vehicle manufacturers and other transportation customers. The company's products are designed to support vehicle sealing, fluid management, noise and vibration control, and other performance, safety, and comfort requirements.

Its product portfolio includes body sealing systems, such as weatherstrips and sealing components; fluid-handling systems for fuel, brake, coolant, and other vehicle fluids; and anti-vibration systems that help reduce noise, vibration, and harshness.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.