Cooper-Standard (NYSE:CPS) Shares Gap Up - Here's What Happened

Key Points

• Cooper-Standard shares gapped up at the open, rising from a prior close of $27.85 to $29.09 before settling near $28.99.
• Analyst sentiment remains mixed but leans cautious: the stock has a consensus rating of Hold with a consensus target price of $48.33, even though Stifel still rates it Buy and recently trimmed its target to $53.
• The company recently missed earnings expectations on EPS, reporting a loss of $0.29 per share versus an expected loss of $0.16, though revenue came in above estimates at $686.36 million.

Cooper-Standard Holdings Inc. (NYSE:CPS - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $27.85, but opened at $29.09. Cooper-Standard shares last traded at $28.9850, with a volume of 3,316 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus decreased 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 report on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Wall Street Zen downgraded Cooper-Standard from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Finally, Zacks Research upgraded Cooper-Standard from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.33.

Cooper-Standard Stock Down 1.3%

The stock has a fifty day simple moving average of $28.50 and a 200-day simple moving average of $31.11. The company has a market capitalization of $506.16 million, a P/E ratio of -13.08 and a beta of 1.99.

Cooper-Standard (NYSE:CPS - Get Free Report) last posted its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The firm had revenue of $686.36 million for the quarter, compared to analyst estimates of $660.00 million. Analysts predict that Cooper-Standard Holdings Inc. will post 3.12 earnings per share for the current fiscal year.

Institutional Trading of Cooper-Standard

Several hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its holdings in shares of Cooper-Standard by 60.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company's stock worth $39,000 after acquiring an additional 682 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Cooper-Standard by 136.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company's stock valued at $53,000 after purchasing an additional 1,432 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Cooper-Standard by 101.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company's stock valued at $122,000 after purchasing an additional 1,658 shares in the last quarter. SG Americas Securities LLC bought a new position in Cooper-Standard in the 4th quarter valued at $154,000. Finally, CWM LLC raised its position in Cooper-Standard by 22.0% in the 4th quarter. CWM LLC now owns 5,246 shares of the auto parts company's stock valued at $172,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company's stock.

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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