Cooper-Standard (NYSE:CPS) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Cooper-Standard (NYSE:CPS) from hold to strong sell, adding to a broadly cautious analyst view of the stock.
• Other firms are also negative or less optimistic: Weiss Ratings kept a sell rating, Wall Street Zen cut the shares to hold, and the overall consensus rating is Reduce with an average price target of $48.33.
• The company recently missed EPS expectations for the quarter, reporting ($0.29) versus the expected ($0.16), though revenue came in above estimates at $686.36 million.

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

Several other research firms have also weighed in on CPS. Weiss Ratings restated a "sell (d-)" rating on shares of Cooper-Standard in a report on Friday, May 22nd. Wall Street Zen cut shares of Cooper-Standard from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Finally, Stifel Nicolaus reduced their target price on shares of Cooper-Standard from $55.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $48.33.

Cooper-Standard Price Performance

Shares of CPS stock opened at $29.00 on Tuesday. Cooper-Standard has a 1 year low of $22.93 and a 1 year high of $47.98. The stock's 50 day simple moving average is $28.50 and its two-hundred day simple moving average is $31.09. The company has a market cap of $514.73 million, a PE ratio of -13.30 and a beta of 1.99.

Cooper-Standard (NYSE:CPS - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The firm had revenue of $686.36 million during the quarter, compared to analyst estimates of $660.00 million. Equities research analysts expect that Cooper-Standard will post 2.86 EPS for the current year.

Institutional Investors Weigh In On Cooper-Standard

A number of institutional investors and hedge funds have recently modified their holdings of CPS. Waystone Advisors LLC purchased a new position in shares of Cooper-Standard during the fourth quarter worth approximately $1,482,000. EVR Research LP boosted its holdings in shares of Cooper-Standard by 114.3% in the fourth quarter. EVR Research LP now owns 375,000 shares of the auto parts company's stock valued at $12,311,000 after purchasing an additional 200,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cooper-Standard by 173.4% in the third quarter. JPMorgan Chase & Co. now owns 44,564 shares of the auto parts company's stock valued at $1,646,000 after purchasing an additional 28,264 shares during the period. Hodges Capital Management Inc. purchased a new position in Cooper-Standard during the 1st quarter worth $2,164,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Cooper-Standard by 40.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,356 shares of the auto parts company's stock worth $176,000 after purchasing an additional 1,529 shares during the period. 69.11% of the stock is owned by institutional investors.

Cooper-Standard Company Profile

Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.

Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.

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