Cooper-Standard (NYSE:CPS) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Cooper-Standard Holdings Inc. (NYSE:CPS)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $31.54 and traded as high as $35.18. Cooper-Standard shares last traded at $34.47, with a volume of 220,242 shares.

Analyst Upgrades and Downgrades

CPS has been the subject of a number of research analyst reports. Citigroup increased their target price on Cooper-Standard from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Stifel Nicolaus raised their price target on shares of Cooper-Standard from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen lowered Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cooper-Standard in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cooper-Standard presently has an average rating of “Hold” and a consensus target price of $39.00.

Cooper-Standard Price Performance

The business’s 50 day simple moving average is $31.60 and its 200-day simple moving average is $31.32. The stock has a market capitalization of $585.75 million, a P/E ratio of 18.25 and a beta of 1.96.

Cooper-Standard (NYSE:CPS) last posted its earnings results on Friday, October 31st. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.74). The firm had revenue of $695.50 million during the quarter, compared to the consensus estimate of $698.83 million.

Insider Buying and Selling at Cooper-Standard

In other Cooper-Standard news, Director David John Mastrocola acquired 2,000 shares of the stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $29.05 per share, for a total transaction of $58,100.00. Following the completion of the acquisition, the director directly owned 18,115 shares of the company’s stock, valued at approximately $526,240.75. This trade represents a 12.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.80% of the stock is owned by corporate insiders.

Institutional Trading of Cooper-Standard

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in Cooper-Standard by 21.9% during the first quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company’s stock worth $3,286,000 after buying an additional 38,489 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Cooper-Standard by 41.4% during the 1st quarter. Voya Investment Management LLC now owns 26,477 shares of the auto parts company’s stock worth $406,000 after acquiring an additional 7,753 shares during the period. Empowered Funds LLC purchased a new position in Cooper-Standard in the 2nd quarter valued at approximately $3,798,000. Fiduciary Alliance LLC grew its holdings in Cooper-Standard by 15.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 484,741 shares of the auto parts company’s stock valued at $10,422,000 after buying an additional 64,105 shares in the last quarter. Finally, Balentine LLC bought a new position in shares of Cooper-Standard in the second quarter worth $207,000. Institutional investors own 69.11% of the company’s stock.

About Cooper-Standard

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.