Canada Pension Plan Investment Board Takes $2.12 Million Position in Cooper-Standard Holdings Inc. $CPS

Key Points

• Canada Pension Plan Investment Board bought 78,400 Cooper-Standard shares worth approximately $2.12 million, representing a 0.44% stake. Institutional investors collectively own 69.11% of the company.
• Cooper-Standard reported a quarterly loss of $0.13 per share, missing the $0.54 consensus estimate, although revenue of $721.35 million exceeded expectations.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $48.33; CPS recently traded at $26.80, near its 52-week low of $25.27.

Canada Pension Plan Investment Board bought a new stake in Cooper-Standard Holdings Inc. (NYSE:CPS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,400 shares of the auto parts company's stock, valued at approximately $2,121,000. Canada Pension Plan Investment Board owned 0.44% of Cooper-Standard at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Cooper-Standard during the 2nd quarter valued at about $41,004,000. Vanguard Group Inc. lifted its holdings in shares of Cooper-Standard by 3.1% during the third quarter. Vanguard Group Inc. now owns 976,604 shares of the auto parts company's stock worth $36,066,000 after purchasing an additional 29,800 shares during the period. 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. 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, Dimensional Fund Advisors LP boosted its position in Cooper-Standard by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 408,205 shares of the auto parts company's stock valued at $11,376,000 after buying an additional 23,620 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company's stock.

Cooper-Standard Stock Up 0.6%

Shares of CPS stock opened at $26.80 on Monday. The stock has a market cap of $476.24 million, a PE ratio of -8.54 and a beta of 2.00. The business has a 50-day simple moving average of $28.10 and a 200-day simple moving average of $30.26. Cooper-Standard Holdings Inc. has a 52-week low of $25.27 and a 52-week high of $47.98.

Cooper-Standard (NYSE:CPS - Get Free Report) last issued its 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 analysts' expectations of $708.90 million. Sell-side analysts anticipate that Cooper-Standard Holdings Inc. will post 2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Cooper-Standard from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of Cooper-Standard from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Finally, Stifel Nicolaus dropped 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. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $48.33.

Cooper-Standard 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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