Cooper-Standard (NYSE:CPS) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Cooper-Standard from “strong sell” to “hold,” while the broader analyst consensus is also “Hold” with an average price target of $48.33.
• Cooper-Standard reported a quarterly loss of $0.13 per share, missing estimates of $0.54, although revenue of $721.35 million exceeded expectations of $708.90 million.
• CPS shares opened at $22.84, near their 52-week low of $22.20, with a market capitalization of approximately $405.8 million; institutional investors and hedge funds own 69.11% of the stock.

Cooper-Standard (NYSE:CPS - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Thursday, Zacks reports.

A number of other brokerages have also issued reports on CPS. Stifel Nicolaus dropped their price objective on shares of Cooper-Standard from $55.00 to $53.00 and set a "buy" rating for the company in a report on Monday, July 20th. Weiss Ratings downgraded shares of Cooper-Standard from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 31st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $48.33.

Cooper-Standard Stock Performance

Shares of CPS opened at $22.84 on Thursday. The stock has a market capitalization of $405.83 million, a price-to-earnings ratio of -7.27 and a beta of 2.01. Cooper-Standard has a 52 week low of $22.20 and a 52 week high of $47.98. The stock has a fifty day moving average of $27.29 and a 200-day moving average of $28.79.

Cooper-Standard (NYSE:CPS - Get Free Report) last issued its earnings results on Thursday, August 6th. The auto parts company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. As a group, equities analysts forecast that Cooper-Standard will post 2.71 EPS for the current year.

Institutional Trading of Cooper-Standard

Large investors have recently made changes to their positions in the company. Squarepoint Ops LLC raised its position in shares of Cooper-Standard by 5.8% during the second 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. Hsbc Holdings PLC bought a new position in shares of Cooper-Standard during the second quarter valued at about $205,000. Empowered Funds LLC purchased a new position in shares of Cooper-Standard in the 2nd quarter worth approximately $3,867,000. Public Employees Retirement System of Ohio purchased a new position in Cooper-Standard in the second quarter worth $540,000. Finally, Bank of America Corp DE bought a new position in Cooper-Standard during the second quarter valued at about $1,084,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

About Cooper-Standard

Cooper-Standard Holdings Inc is a global automotive supplier headquartered in Northville, Michigan. Through its operating businesses, the company develops and manufactures systems and components used by original equipment manufacturers and other customers in the automotive and transportation industries.

Its principal products include fluid-handling systems for fuel, brake, and thermal-management applications; sealing systems such as door, window, trunk, and hood seals; and anti-vibration and related engineered components.

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