Cooper-Standard (NYSE:CPS) Given New $27.00 Price Target at Freedom Broker

Key Points

• Freedom Broker cut its Cooper-Standard price target to $27 from $45 but maintained a Buy rating, implying 44.74% upside from the share price at the time.
• Analyst views are mixed: MarketBeat reported a consensus Hold rating and average target of $26, with two Buy, one Hold, and two Sell ratings.
• Cooper-Standard missed quarterly earnings expectations, reporting a loss of $0.11 per share versus analyst forecasts for earnings of $0.74, though revenue of $708.59 million topped estimates.

Cooper-Standard (NYSE:CPS - Get Free Report) had its price target cut by equities research analysts at Freedom Broker from $45.00 to $27.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the auto parts company's stock. Freedom Broker's target price points to a potential upside of 44.74% from the company's current price.

Several other analysts also recently issued reports on CPS. Zacks Research downgraded Cooper-Standard from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 20th. Citigroup dropped their target price on Cooper-Standard from $25.00 to $19.00 and set a "neutral" rating on the stock in a research report on Monday. Stifel Nicolaus decreased their price objective on shares of Cooper-Standard from $53.00 to $32.00 and set a "buy" rating for the company in a report on Monday, October 19th. Finally, Weiss Ratings raised shares of Cooper-Standard from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $26.00.

Cooper-Standard Stock Up 4.0%

Shares of CPS traded up $0.72 during midday trading on Monday, hitting $18.65. The company had a trading volume of 249,817 shares, compared to its average volume of 222,104. The company's 50 day moving average price is $22.22 and its 200 day moving average price is $28.39. The stock has a market cap of $331.48 million, a price-to-earnings ratio of -4.85 and a beta of 2.03. Cooper-Standard has a 52 week low of $16.91 and a 52 week high of $47.98.

Cooper-Standard (NYSE:CPS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The auto parts company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.85). The company had revenue of $708.59 million during the quarter, compared to analyst estimates of $704.13 million. Equities analysts anticipate that Cooper-Standard will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Cooper-Standard

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Cooper-Standard by 154.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 55,471 shares of the auto parts company's stock worth $1,156,000 after acquiring an additional 33,664 shares in the last quarter. Tectonic Advisors LLC increased its position in shares of Cooper-Standard by 28.6% during the 3rd quarter. Tectonic Advisors LLC now owns 49,957 shares of the auto parts company's stock valued at $1,041,000 after purchasing an additional 11,104 shares during the last quarter. Great Hill Capital LLC raised its stake in shares of Cooper-Standard by 1.0% during the 3rd quarter. Great Hill Capital LLC now owns 333,080 shares of the auto parts company's stock worth $6,941,000 after purchasing an additional 3,342 shares during the period. Squarepoint Ops LLC raised its stake in shares of Cooper-Standard by 5.8% during the 2nd quarter. Squarepoint Ops LLC now owns 72,214 shares of the auto parts company's stock worth $1,953,000 after purchasing an additional 3,942 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Cooper-Standard in the 2nd quarter worth about $205,000. Institutional investors and hedge funds own 69.11% of the company's stock.

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.

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