Zacks Research Downgrades Cooper-Standard (NYSE:CPS) to Strong Sell

Key Points

• Zacks Research downgraded Cooper‑Standard (NYSE:CPS) from a "hold" to a "strong sell", and the stock's consensus analyst sentiment is now "Reduce" with an average price target of $49.33.
• Shares slid about 5.1%, opening at $29.12, with a market cap near $517 million, a negative P/E (-121.33), and a 52‑week range of $14.02 to $47.98.
• Cooper‑Standard reported a quarterly EPS loss of ($1.73), missing estimates of ($0.95) by $0.78 while generating $672.37 million in revenue (above estimates of $641.51 million).

Cooper-Standard (NYSE:CPS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

CPS has been the subject of a number of other reports. Stifel Nicolaus cut their target price on Cooper-Standard to $55.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Wall Street Zen lowered Cooper-Standard from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Citigroup upped their target price on Cooper-Standard from $35.00 to $43.65 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings lowered Cooper-Standard from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $49.33.

Cooper-Standard Trading Down 5.1%

Shares of NYSE CPS opened at $29.12 on Monday. The business has a fifty day simple moving average of $31.93 and a 200 day simple moving average of $32.57. The firm has a market capitalization of $517.03 million, a price-to-earnings ratio of -121.33 and a beta of 2.00. Cooper-Standard has a one year low of $14.02 and a one year high of $47.98.

Cooper-Standard (NYSE:CPS - Get Free Report) last issued its earnings results on Friday, February 13th. The auto parts company reported ($1.73) EPS for the quarter, missing analysts' consensus estimates 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. On average, research analysts anticipate that Cooper-Standard will post 2.72 earnings per share for the current fiscal year.

Insider Transactions at Cooper-Standard

In related news, Director David John Mastrocola acquired 3,391 shares of the company's stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $29.77 per share, for a total transaction of $100,950.07. Following the completion of the purchase, the director directly owned 25,000 shares of the company's stock, valued at $744,250. The trade was a 15.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 6,885 shares of company stock worth $208,144 in the last three months. Corporate insiders own 9.20% of the company's stock.

Institutional Trading of Cooper-Standard

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of Cooper-Standard in the third quarter valued at $30,000. Geneos Wealth Management Inc. increased its stake in shares of Cooper-Standard by 60.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company's stock valued at $39,000 after buying an additional 682 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Cooper-Standard by 136.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company's stock valued at $53,000 after buying an additional 1,432 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Cooper-Standard in the third quarter valued at $57,000. Finally, AlphaQuest LLC increased its stake in shares of Cooper-Standard by 593.3% in the third quarter. AlphaQuest LLC now owns 3,307 shares of the auto parts company's stock valued at $122,000 after buying an additional 2,830 shares in the last quarter. 69.11% of the stock is currently 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.

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