Traders Purchase High Volume of Call Options on Cooper-Standard (NYSE:CPS)

Key Points

• Unusual bullish options activity: Investors bought 2,223 Cooper-Standard call options, 403% above the average volume of 442.
• Shares plunged 18.1% to $18.05 on Thursday. The company reported a quarterly loss of $0.11 per share, missing the $0.74 consensus estimate, while revenue slightly exceeded expectations.
• Analyst sentiment is mixed but leans negative: MarketBeat reports an average “Reduce” rating and a $37.83 price target, with two Sell ratings, one Hold, and one Buy.

Cooper-Standard Holdings Inc. (NYSE:CPS - Get Free Report) was the target of some unusual options trading on Thursday. Investors purchased 2,223 call options on the company. This represents an increase of 403% compared to the average volume of 442 call options.

Wall Street Analyst Weigh In

Several research firms have issued reports on CPS. Stifel Nicolaus cut their target price on Cooper-Standard from $53.00 to $32.00 and set a "buy" rating on the stock in a research note on Monday, October 19th. Zacks Research lowered shares of Cooper-Standard from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Finally, Weiss Ratings upgraded shares of Cooper-Standard from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $37.83.

Cooper-Standard Trading Down 18.1%

Shares of CPS stock traded down $3.98 during trading hours on Thursday, reaching $18.05. 191,540 shares of the company's stock were exchanged, compared to its average volume of 215,584. Cooper-Standard has a fifty-two week low of $17.15 and a fifty-two week high of $47.98. The stock's 50 day moving average is $22.56 and its 200-day moving average is $28.52. The company has a market cap of $320.82 million, a price-to-earnings ratio of -5.76 and a beta of 2.03.

Cooper-Standard (NYSE:CPS - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The auto parts company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.85). The firm had revenue of $708.59 million during the quarter, compared to analysts' expectations of $704.13 million. Equities analysts anticipate that Cooper-Standard will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Cooper-Standard

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Cooper-Standard during the second quarter valued at $41,004,000. Dimensional Fund Advisors LP increased its position in shares of Cooper-Standard by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 408,205 shares of the auto parts company's stock valued at $11,376,000 after acquiring an additional 23,620 shares during the period. Great Hill Capital LLC raised its stake in Cooper-Standard by 1.0% in the 3rd quarter. Great Hill Capital LLC now owns 333,080 shares of the auto parts company's stock worth $6,941,000 after acquiring an additional 3,342 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Cooper-Standard by 15.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company's stock worth $8,662,000 after acquiring an additional 41,797 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Cooper-Standard in the 2nd quarter worth $3,867,000. Institutional investors and hedge funds own 69.11% of the company's stock.

Cooper-Standard Company Profile

Cooper-Standard Holdings Inc is an automotive supplier that develops and manufactures systems and components used by vehicle manufacturers and other transportation customers. The company's products are designed to support vehicle sealing, fluid management, noise and vibration control, and other performance, safety, and comfort requirements.

Its product portfolio includes body sealing systems, such as weatherstrips and sealing components; fluid-handling systems for fuel, brake, coolant, and other vehicle fluids; and anti-vibration systems that help reduce noise, vibration, and harshness.

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