BlackRock Inc. Acquires New Stake in Cooper-Standard Holdings Inc. $CPS

Key Points

• BlackRock acquired 1.52 million Cooper-Standard shares worth approximately $41 million, giving it an 8.54% stake. Institutional investors collectively own 69.11% of the company.
• Analyst sentiment is mixed but leans negative: Cooper-Standard has an average “Reduce” rating and a $48.33 price target, with ratings ranging from Buy to Strong Sell.
• The stock opened at $26.75 and remains near its 12-month low of $25.27. The company missed quarterly EPS expectations, reporting a $0.13 loss per share despite revenue of $721.35 million.

BlackRock Inc. bought a new position in shares of Cooper-Standard Holdings Inc. (NYSE:CPS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,515,877 shares of the auto parts company's stock, valued at approximately $41,004,000. BlackRock Inc. owned approximately 8.54% of Cooper-Standard at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in shares of Cooper-Standard during the second quarter worth about $762,000. Bank of New York Mellon Corp acquired a new position in shares of Cooper-Standard during the second quarter worth about $2,860,000. State of Wyoming purchased a new stake in shares of Cooper-Standard during the second quarter worth approximately $127,000. GSA Capital Partners LLP acquired a new position in Cooper-Standard during the 2nd quarter worth approximately $408,000. Finally, Quantinno Capital Management LP grew its holdings in Cooper-Standard by 53.4% during the 1st quarter. Quantinno Capital Management LP now owns 12,281 shares of the auto parts company's stock worth $342,000 after acquiring an additional 4,275 shares in the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CPS shares. Stifel Nicolaus reduced their price objective on shares of Cooper-Standard from $55.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Weiss Ratings upgraded Cooper-Standard from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered Cooper-Standard from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Cooper-Standard has an average rating of "Reduce" and an average price target of $48.33.

Cooper-Standard Price Performance

Cooper-Standard stock opened at $26.75 on Tuesday. The business has a 50 day simple moving average of $28.04 and a 200-day simple moving average of $30.20. Cooper-Standard Holdings Inc. has a 12 month low of $25.27 and a 12 month high of $47.98. The stock has a market capitalization of $475.35 million, a PE ratio of -8.52 and a beta of 2.00.

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

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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