Cooper-Standard (NYSE:CPS) Issues Quarterly Earnings Results

Key Points

• Cooper-Standard reported a quarterly loss of $0.13 per share, missing the $0.55 analyst consensus estimate by $0.68.
• Shares rose $0.22 to $30.98 following the results, while the stock remained well below its 52-week high of $47.98 and had a market capitalization of approximately $549.8 million.
• Analyst sentiment is generally negative, with a consensus rating of “Reduce” from four analysts; the average price target is $48.33, despite Stifel maintaining a “buy” rating.

Cooper-Standard (NYSE:CPS - Get Free Report) posted its quarterly earnings results on Wednesday. The auto parts company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.68), Zacks reports.

Cooper-Standard Stock Performance

Shares of Cooper-Standard stock traded up $0.22 on Wednesday, hitting $30.98. 227,615 shares of the company traded hands, compared to its average volume of 154,502. Cooper-Standard has a 52 week low of $23.61 and a 52 week high of $47.98. The business has a 50-day simple moving average of $28.79 and a 200 day simple moving average of $30.81. The stock has a market capitalization of $549.82 million, a P/E ratio of -14.21 and a beta of 2.00.

Analyst Ratings Changes

A number of research analysts recently weighed in on CPS shares. Stifel Nicolaus lowered 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, July 20th. Zacks Research lowered Cooper-Standard from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cooper-Standard in a report on Friday, May 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $48.33.

Hedge Funds Weigh In On Cooper-Standard

Several institutional investors have recently bought and sold shares of CPS. Royal Bank of Canada increased its holdings in Cooper-Standard by 343.0% in the 1st quarter. Royal Bank of Canada now owns 25,628 shares of the auto parts company's stock valued at $393,000 after acquiring an additional 19,843 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cooper-Standard by 1,345.8% during the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company's stock valued at $2,321,000 after purchasing an additional 141,049 shares during the last quarter. Millennium Management LLC grew its position in shares of Cooper-Standard by 89.9% during the first quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company's stock valued at $4,765,000 after purchasing an additional 147,209 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cooper-Standard by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company's stock valued at $3,286,000 after purchasing an additional 38,489 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Cooper-Standard during the second quarter valued at about $202,000. 69.11% of the stock is owned by hedge funds and other 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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