Cooper-Standard (NYSE:CPS) Hits New 52-Week High After Earnings Beat

Key Points

• Cooper-Standard Holdings Inc. reached a new 52-week high of $29.32 after reporting better-than-expected earnings, with $0.06 EPS and revenue of $705.97 million for the quarter.
• Several research firms have reacted to the company's performance, with Wall Street Zen upgrading Cooper-Standard from a "buy" to a "strong-buy" rating.
• Institutional investors own 69.11% of the company's stock, with significant increases in holdings from firms like Nisa Investment Advisors and US Bancorp DE.

Cooper-Standard Holdings Inc. (NYSE:CPS - Get Free Report) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $28.40 and last traded at $29.32, with a volume of 5706 shares. The stock had previously closed at $24.10.

The auto parts company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.12. The firm had revenue of $705.97 million during the quarter, compared to the consensus estimate of $687.00 million.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPS. Wall Street Zen raised Cooper-Standard from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Citigroup began coverage on Cooper-Standard in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $12.00 target price for the company.

Institutional Investors Weigh In On Cooper-Standard

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fiduciary Alliance LLC raised its position in shares of Cooper-Standard by 15.2% in the second quarter. Fiduciary Alliance LLC now owns 484,741 shares of the auto parts company's stock worth $10,422,000 after buying an additional 64,105 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Cooper-Standard by 19.5% in the fourth quarter. Renaissance Technologies LLC now owns 338,000 shares of the auto parts company's stock worth $4,583,000 after buying an additional 55,100 shares in the last quarter. Millennium Management LLC raised its position in 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. Jacobs Levy Equity Management Inc. raised its position in Cooper-Standard by 24.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 223,558 shares of the auto parts company's stock valued at $3,425,000 after purchasing an additional 43,979 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Cooper-Standard by 19.7% during the first quarter. Raymond James Financial Inc. now owns 222,716 shares of the auto parts company's stock valued at $3,412,000 after purchasing an additional 36,716 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company's stock.

Cooper-Standard Stock Up 1.0%

The stock has a 50-day simple moving average of $22.81 and a two-hundred day simple moving average of $18.49. The firm has a market cap of $428.75 million, a PE ratio of 15.08 and a beta of 2.92.

Cooper-Standard Company Profile

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.