Cooper-Standard (NYSE:CPS) Shares Gap Up - Should You Buy?

Key Points

• Shares gapped up: Cooper-Standard jumped from a $30.69 close to a $34.00 open and last traded around $32.40 on roughly 74,945 shares.
• Analyst sentiment is mixed-to-negative, with one Buy, one Hold and two Sell ratings and a MarketBeat consensus of “Reduce” and a $49.33 consensus price target.
• Fundamentals show an EPS miss (‑$0.29 vs. est. ‑$0.16) despite a revenue beat ($686.4M vs. $660M); market cap ≈ $540M, negative P/E, insiders recently bought shares and institutions own ~69%.

Cooper-Standard Holdings Inc. (NYSE:CPS - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $30.69, but opened at $34.00. Cooper-Standard shares last traded at $32.40, with a volume of 74,945 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Cooper-Standard from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Stifel Nicolaus reduced their price target on shares of Cooper-Standard to $55.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Zacks Research cut shares of Cooper-Standard from a "hold" rating to a "strong sell" rating in a research report on Monday, April 27th. Weiss Ratings downgraded shares of Cooper-Standard from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 9th. Finally, Citigroup lifted their target price on Cooper-Standard from $35.00 to $43.65 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $49.33.

Cooper-Standard Stock Down 0.9%

The company has a market capitalization of $539.58 million, a PE ratio of -126.66 and a beta of 2.00. The business has a 50 day simple moving average of $31.19 and a 200 day simple moving average of $32.49.

Cooper-Standard (NYSE:CPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. 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 for the quarter, compared to analysts' expectations of $660.00 million. Equities analysts expect that Cooper-Standard Holdings Inc. will post 2.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David John Mastrocola purchased 3,391 shares of the business's stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $29.77 per share, for a total transaction of $100,950.07. Following the purchase, the director owned 25,000 shares of the company's stock, valued at $744,250. This trade represents a 15.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have purchased 6,885 shares of company stock worth $208,144. 9.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cooper-Standard

Several hedge funds have recently made changes to their positions in CPS. Vanguard Group Inc. grew its stake in Cooper-Standard by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 976,604 shares of the auto parts company's stock valued at $36,066,000 after purchasing an additional 29,800 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of Cooper-Standard by 0.5% during the first quarter. Fiduciary Alliance LLC now owns 503,971 shares of the auto parts company's stock worth $15,376,000 after purchasing an additional 2,598 shares during the period. Great Hill Capital LLC acquired a new stake in shares of Cooper-Standard during the third quarter worth about $16,036,000. Geode Capital Management LLC boosted its position in Cooper-Standard by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 422,689 shares of the auto parts company's stock valued at $13,880,000 after buying an additional 13,143 shares during the last quarter. Finally, EVR Research LP increased its holdings in Cooper-Standard by 114.3% in the 4th quarter. EVR Research LP now owns 375,000 shares of the auto parts company's stock worth $12,311,000 after buying an additional 200,000 shares during the period. 69.11% of the stock is owned by institutional investors and hedge funds.

About Cooper-Standard

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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