Cooper Tire & Rubber Co (NYSE:CTB)’s share price was up 5.7% during mid-day trading on Wednesday . The stock traded as high as $26.72 and last traded at $26.71, approximately 617,695 shares changed hands during trading. An increase of 54% from the average daily volume of 401,658 shares. The stock had previously closed at $25.27.
A number of research analysts have issued reports on CTB shares. Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a report on Sunday, July 7th. ValuEngine lowered shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, July 23rd. B. Riley set a $40.00 target price on shares of Cooper Tire & Rubber and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, KeyCorp cut their price target on shares of Cooper Tire & Rubber from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Cooper Tire & Rubber has an average rating of “Hold” and an average price target of $34.75.
The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 12.25 and a beta of 0.68. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $25.01 and a 200 day moving average price of $29.09.
Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, July 29th. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.33). The business had revenue of $679.10 million for the quarter, compared to analyst estimates of $718.74 million. Cooper Tire & Rubber had a net margin of 2.46% and a return on equity of 8.61%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, equities analysts predict that Cooper Tire & Rubber Co will post 1.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $0.105 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.57%. Cooper Tire & Rubber’s dividend payout ratio is 19.27%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gateway Investment Advisers LLC grew its stake in shares of Cooper Tire & Rubber by 95.4% during the second quarter. Gateway Investment Advisers LLC now owns 152,743 shares of the company’s stock valued at $4,819,000 after purchasing an additional 74,585 shares during the last quarter. Hancock Whitney Corp acquired a new position in Cooper Tire & Rubber during the 1st quarter worth $921,000. Synovus Financial Corp acquired a new position in Cooper Tire & Rubber during the 2nd quarter worth $189,000. Frontier Capital Management Co. LLC lifted its holdings in Cooper Tire & Rubber by 11.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,292,746 shares of the company’s stock worth $38,640,000 after buying an additional 136,917 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in Cooper Tire & Rubber in the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.
Cooper Tire & Rubber Company Profile (NYSE:CTB)
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.
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