Wall Street Zen Downgrades Cooper-Standard (NYSE:CPS) to Buy

Wall Street Zen lowered shares of Cooper-Standard (NYSE:CPS - Free Report) from a strong-buy rating to a buy rating in a research note published on Sunday morning.

Separately, Citigroup started coverage on shares of Cooper-Standard in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $12.00 target price for the company.

Cooper-Standard Stock Up 7.9%

Cooper-Standard stock traded up $1.80 during midday trading on Friday, reaching $24.42. The company's stock had a trading volume of 185,978 shares, compared to its average volume of 220,963. The company has a market cap of $428.50 million, a P/E ratio of -9.27 and a beta of 2.80. The business has a 50-day simple moving average of $21.36 and a 200-day simple moving average of $16.79. Cooper-Standard has a fifty-two week low of $10.38 and a fifty-two week high of $26.73.

Cooper-Standard (NYSE:CPS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The auto parts company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.93) by $1.12. The company had revenue of $667.07 million during the quarter, compared to analysts' expectations of $670.00 million.

Hedge Funds Weigh In On Cooper-Standard

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Cooper-Standard in the fourth quarter valued at approximately $2,522,000. Quantbot Technologies LP purchased a new stake in Cooper-Standard during the fourth quarter worth about $48,000. JPMorgan Chase & Co. grew its position in Cooper-Standard by 109.6% during the fourth quarter. JPMorgan Chase & Co. now owns 161,420 shares of the auto parts company's stock worth $2,189,000 after buying an additional 84,412 shares during the period. Pacific Ridge Capital Partners LLC grew its position in Cooper-Standard by 11.0% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 339,768 shares of the auto parts company's stock worth $4,607,000 after buying an additional 33,631 shares during the period. Finally, National Bank of Canada FI purchased a new position in Cooper-Standard in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 69.11% of the company's stock.

About Cooper-Standard

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, manufactures and sells sealing, fuel and brake delivery, and fluid transfer systems in the United States, Mexico, China, Poland, Canada, Germany, France, and internationally. The company offers sealing systems, including dynamic seals, static seals, encapsulated glasses, textured surfaces with cloth appearance, obstacle detection sensor systems, FlushSeal systems, variable extrusions, specialty sealing products, stainless steel trims, and frameless systems.