Cooper-Standard (NYSE:CPS) Stock Price Up 11.2% - Here's What Happened

Key Points

• Shares of Cooper-Standard jumped 11.2% intraday to $32.86 on Friday, with about 65,431 shares traded—down roughly 71% from the stock's average daily volume of 226,642.
• Analyst sentiment is mixed: the consensus rating is Hold with an average price target of $49.33, while individual notes range from Citigroup's raised $43.65 target to several recent downgrades.
• The company reported a significant EPS miss (loss of $1.73 vs. an expected $0.95) but beat revenue estimates ($672.37M vs. $641.51M); insiders have been buying shares (insiders own 9.2%) and institutional investors hold about 69.11% of the stock.

Cooper-Standard Holdings Inc. (NYSE:CPS - Get Free Report) shares rose 11.2% during mid-day trading on Friday . The company traded as high as $32.76 and last traded at $32.8560. Approximately 65,431 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 226,642 shares. The stock had previously closed at $29.55.

Analyst Upgrades and Downgrades

CPS has been the subject of a number of research analyst reports. Weiss Ratings lowered Cooper-Standard from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, February 9th. Citigroup increased their price objective on Cooper-Standard from $35.00 to $43.65 and gave the stock a "neutral" rating in a report on Wednesday, February 18th. Wall Street Zen lowered Cooper-Standard from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Zacks Research upgraded Cooper-Standard from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 30th. Finally, Stifel Nicolaus cut their price objective on Cooper-Standard to $55.00 and set a "buy" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $49.33.

Cooper-Standard Price Performance

The company has a fifty day moving average of $33.12 and a 200-day moving average of $32.82. The firm has a market capitalization of $561.77 million, a PE ratio of -131.83 and a beta of 2.00.

Cooper-Standard (NYSE:CPS - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The auto parts company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.78). The company had revenue of $672.37 million during the quarter, compared to analyst estimates of $641.51 million.

Insiders Place Their Bets

In related news, Director David John Mastrocola bought 3,391 shares of the business's stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $100,950.07. Following the completion of the acquisition, the director directly owned 25,000 shares in the company, valued at approximately $744,250. This represents a 15.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 6,885 shares of company stock worth $208,144 in the last 90 days. 9.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cooper-Standard

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in Cooper-Standard during the third quarter valued at about $669,000. Great Hill Capital LLC bought a new position in Cooper-Standard during the third quarter valued at about $16,036,000. Osaic Holdings Inc. raised its holdings in Cooper-Standard by 42.0% during the second quarter. Osaic Holdings Inc. now owns 85,593 shares of the auto parts company's stock valued at $1,840,000 after buying an additional 25,318 shares in the last quarter. EVR Research LP bought a new position in Cooper-Standard during the third quarter valued at about $6,463,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Cooper-Standard during the third quarter valued at about $517,000. 69.11% of the stock is currently owned by institutional investors.

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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