Cooper Tire & Rubber Company (NYSE:CTB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, July 24th. The brokerage presently has a $43.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 27.22% from the company’s previous close.
According to Zacks, “Over the past 30 days, both the second-quarter and full estimates are moving up for Cooper Tire & Rubber. The company continues to expand its product portfolio with a focus to satisfy the market demand in all regions. It is also expanding its presence in Asia and Latin America through acquisitions and opening new sales offices. Also, it intends to reduce its manufacturing costs through increased automation in production facilities and consolidation of product family, which is expected to have a positive impact in its financials. Moreover, a strong balance sheet and frequent share repurchases by the company will boost shareholders’ value.”
A number of other equities analysts have also issued reports on the company. Northcoast Research lowered Cooper Tire & Rubber from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 18th. Standpoint Research raised Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Cooper Tire & Rubber in a research report on Thursday, July 6th. Finally, BidaskClub raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Cooper Tire & Rubber currently has a consensus rating of “Hold” and a consensus target price of $42.00.
Shares of Cooper Tire & Rubber (NYSE:CTB) opened at 33.80 on Monday. The firm’s 50-day moving average is $36.45 and its 200-day moving average is $38.62. Cooper Tire & Rubber has a 12-month low of $33.11 and a 12-month high of $44.50. The firm has a market cap of $1.76 billion, a PE ratio of 9.35 and a beta of -0.02.
Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Friday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The company had revenue of $720.75 million for the quarter, compared to analyst estimates of $775 million. During the same period in the prior year, the company posted $1.27 EPS. Cooper Tire & Rubber’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts expect that Cooper Tire & Rubber will post $3.40 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of Cooper Tire & Rubber during the first quarter worth approximately $110,000. Flinton Capital Management LLC bought a new position in shares of Cooper Tire & Rubber during the first quarter worth approximately $112,000. Creative Planning increased its position in shares of Cooper Tire & Rubber by 5.3% in the first quarter. Creative Planning now owns 2,585 shares of the company’s stock worth $115,000 after buying an additional 129 shares during the last quarter. Neuburgh Advisers LLC bought a new position in shares of Cooper Tire & Rubber during the first quarter worth approximately $136,000. Finally, Riverhead Capital Management LLC increased its position in shares of Cooper Tire & Rubber by 75.2% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock worth $145,000 after buying an additional 1,729 shares during the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.
Cooper Tire & Rubber Company Profile
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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