Cooper-Standard (NYSE:CPS) Trading Down 5.9% - What's Next?

Key Points

• Cooper-Standard shares fell 5.9% to about $29.54 in thin trading, with volume down 94% versus the average daily level.
• Analyst sentiment is cautious: MarketBeat reports an average “Reduce” rating and a $48.33 price target, with two sell ratings, one hold, and one buy.
• The company reported a quarterly loss of $0.13 per share, missing the $0.54 consensus estimate, despite revenue of $721.35 million exceeding expectations; institutional investors own 69.11% of the stock.

Cooper-Standard Holdings Inc. (NYSE:CPS - Get Free Report) shares fell 5.9% during mid-day trading on Monday . The stock traded as low as $30.08 and last traded at $29.5410. 11,257 shares were traded during trading, a decline of 94% from the average daily volume of 198,890 shares. The stock had previously closed at $31.40.

Wall Street Analysts Forecast Growth

CPS has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Stifel Nicolaus cut their price objective on Cooper-Standard from $55.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Finally, Zacks Research downgraded shares of Cooper-Standard from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cooper-Standard currently has an average rating of "Reduce" and an average target price of $48.33.

Cooper-Standard Price Performance

The company's 50 day simple moving average is $28.75 and its 200 day simple moving average is $30.78. The stock has a market cap of $520.78 million, a P/E ratio of -9.34 and a beta of 2.00.

Cooper-Standard (NYSE:CPS - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The auto parts company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.67). The firm had revenue of $721.35 million during the quarter, compared to the consensus estimate of $708.90 million. On average, equities research analysts predict that Cooper-Standard Holdings Inc. will post 2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its stake in Cooper-Standard by 15.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company's stock valued at $8,662,000 after buying an additional 41,797 shares during the period. Waystone Advisors LLC bought a new position in shares of Cooper-Standard during the fourth quarter worth approximately $1,482,000. EVR Research LP increased its stake in shares of Cooper-Standard by 114.3% during the fourth quarter. EVR Research LP now owns 375,000 shares of the auto parts company's stock worth $12,311,000 after purchasing an additional 200,000 shares during the period. Hodges Capital Management Inc. bought a new position in Cooper-Standard during the first quarter worth about $2,164,000. Finally, Dimensional Fund Advisors LP increased its position in Cooper-Standard by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 408,205 shares of the auto parts company's stock worth $11,376,000 after acquiring an additional 23,620 shares during the period. 69.11% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source