Cooper Tire & Rubber (NYSE:CTB) PT Raised to $32.00

Cooper Tire & Rubber (NYSE:CTB) had its price target lifted by equities researchers at KeyCorp from $30.00 to $32.00 in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 16.07% from the stock’s previous close. KeyCorp also issued estimates for Cooper Tire & Rubber’s FY2021 earnings at $1.85 EPS.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Cooper Tire & Rubber from a “hold” rating to a “strong sell” rating and set a $26.00 price objective for the company. in a report on Tuesday, June 2nd. Cfra dropped their price objective on Cooper Tire & Rubber from $30.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, May 7th. TheStreet cut Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Cooper Tire & Rubber from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, June 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.60.

NYSE CTB opened at $27.57 on Monday. The company has a market cap of $1.30 billion, a P/E ratio of 17.79 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 2.05. The business’s 50 day moving average price is $25.29 and its 200-day moving average price is $24.56. Cooper Tire & Rubber has a fifty-two week low of $13.82 and a fifty-two week high of $32.14.

Cooper Tire & Rubber (NYSE:CTB) last released its earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.08). Cooper Tire & Rubber had a net margin of 2.92% and a return on equity of 6.85%. The company had revenue of $532.00 million for the quarter, compared to the consensus estimate of $544.67 million. During the same period in the prior year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down 14.1% compared to the same quarter last year. As a group, equities analysts predict that Cooper Tire & Rubber will post 0.76 EPS for the current year.

Hedge funds have recently modified their holdings of the business. State Street Corp raised its position in shares of Cooper Tire & Rubber by 6.4% in the 1st quarter. State Street Corp now owns 1,728,144 shares of the company’s stock worth $28,169,000 after acquiring an additional 103,653 shares in the last quarter. Royal Bank of Canada raised its position in shares of Cooper Tire & Rubber by 69.2% in the 1st quarter. Royal Bank of Canada now owns 32,433 shares of the company’s stock worth $529,000 after acquiring an additional 13,270 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Cooper Tire & Rubber by 19.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 6,920 shares of the company’s stock worth $113,000 after acquiring an additional 1,111 shares in the last quarter. Morgan Stanley raised its position in shares of Cooper Tire & Rubber by 7.0% in the 1st quarter. Morgan Stanley now owns 276,562 shares of the company’s stock worth $4,508,000 after acquiring an additional 18,132 shares in the last quarter. Finally, Advisor Group Holdings Inc. bought a new position in shares of Cooper Tire & Rubber in the 1st quarter worth $52,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

About Cooper Tire & Rubber

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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Analyst Recommendations for Cooper Tire & Rubber (NYSE:CTB)

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