Cooper-Standard (NYSE:CPS) Shares Gap Down – Here’s Why

Cooper-Standard Holdings Inc. (NYSE:CPS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.16, but opened at $28.68. Cooper-Standard shares last traded at $28.7350, with a volume of 5,421 shares trading hands.

Analyst Ratings Changes

CPS has been the subject of several analyst reports. Stifel Nicolaus cut their price target on Cooper-Standard to $55.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Citigroup boosted their price target on Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Zacks Research downgraded Cooper-Standard from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Weiss Ratings downgraded Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. Finally, Wall Street Zen downgraded Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Cooper-Standard currently has an average rating of “Reduce” and an average target price of $49.33.

Cooper-Standard Trading Down 0.2%

The company’s 50 day moving average price is $30.48 and its 200-day moving average price is $32.35. The company has a market capitalization of $509.51 million, a PE ratio of -13.17 and a beta of 2.00.

Cooper-Standard (NYSE:CPS) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The firm had revenue of $686.36 million for the quarter, compared to the consensus estimate of $660.00 million. As a group, analysts predict that Cooper-Standard Holdings Inc. will post 3.12 earnings per share for the current year.

Insider Activity

In related news, Director David John Mastrocola acquired 3,391 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $29.77 per share, with a total value of $100,950.07. Following the purchase, the director directly owned 25,000 shares of the company’s stock, valued at approximately $744,250. This represents a 15.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 6,885 shares of company stock worth $208,144. 9.20% of the stock is owned by insiders.

Institutional Trading of Cooper-Standard

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in Cooper-Standard during the 3rd quarter worth $30,000. New York State Teachers Retirement System purchased a new stake in Cooper-Standard during the 3rd quarter worth $57,000. Geneos Wealth Management Inc. boosted its position in Cooper-Standard by 60.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 682 shares during the period. Tower Research Capital LLC TRC boosted its position in Cooper-Standard by 136.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 1,432 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Cooper-Standard by 101.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 1,658 shares during the period. 69.11% of the stock is owned by hedge funds and other institutional investors.

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.