Cooper-Standard (NYSE:CPS) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Cooper-Standard to “strong sell” from “hold,” while the broader analyst consensus is “Reduce,” with an average price target of $37.83.
• Cooper-Standard shares fell 3.3% to $19.77, near their 52-week low of $19.47. The stock remains well below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.13 per share, missing the $0.54 consensus estimate, although revenue of $721.35 million exceeded forecasts; institutional investors own 69.11% of the stock.

Cooper-Standard (NYSE:CPS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday, Zacks reports.

A number of other research analysts have also recently commented on CPS. Stifel Nicolaus reduced their target price on shares of Cooper-Standard from $53.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday. Weiss Ratings lowered Cooper-Standard from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 31st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $37.83.

Cooper-Standard Trading Down 3.3%

NYSE:CPS opened at $19.77 on Tuesday. Cooper-Standard has a 1 year low of $19.47 and a 1 year high of $47.98. The stock has a 50-day moving average price of $23.92 and a two-hundred day moving average price of $27.29. The stock has a market cap of $351.40 million, a price-to-earnings ratio of -6.30 and a beta of 2.05.

Cooper-Standard (NYSE:CPS - Get Free Report) last issued its earnings results on Thursday, August 6th. The auto parts company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.54 by ($0.67). The business had revenue of $721.35 million during the quarter, compared to analyst estimates of $708.90 million. Sell-side analysts forecast that Cooper-Standard will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Cooper-Standard

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Cooper-Standard in the second quarter valued at about $41,004,000. Empowered Funds LLC purchased a new position in shares of Cooper-Standard during the second quarter valued at approximately $3,867,000. Bank of New York Mellon Corp bought a new position in Cooper-Standard in the 2nd quarter worth $2,860,000. Canada Pension Plan Investment Board purchased a new position in Cooper-Standard during the second quarter worth approximately $2,121,000. Finally, Hodges Capital Management Inc. acquired a new position in shares of Cooper-Standard during the 1st quarter worth $2,164,000. Institutional investors and hedge funds own 69.11% of the company's stock.

About Cooper-Standard

Cooper-Standard Holdings Inc is a global automotive supplier that develops and manufactures systems and components designed to support vehicle performance, comfort, safety and durability. The company serves original equipment manufacturers (OEMs) and other customers across the automotive industry.

Its primary product areas include sealing systems, fluid-handling systems and anti-vibration systems. These products include door and window seals, body sealing components, fuel and brake lines, fluid-transfer assemblies, hoses, and components that help reduce noise, vibration and harshness in vehicles.

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