Cooper-Standard (NYSE:CPS) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Cooper-Standard (NYSE:CPS) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

CPS has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Stifel Nicolaus lowered their target price on Cooper-Standard to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Wall Street Zen downgraded Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Citigroup lifted their price target on Cooper-Standard from $35.00 to $43.65 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.33.

Cooper-Standard Price Performance

Shares of Cooper-Standard stock opened at $30.45 on Tuesday. The business has a 50-day moving average of $29.48 and a 200-day moving average of $31.91. The company has a market capitalization of $540.40 million, a PE ratio of -13.97 and a beta of 2.00. Cooper-Standard has a 1-year low of $19.32 and a 1-year high of $47.98.

Cooper-Standard (NYSE:CPS) last announced its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The firm had revenue of $686.36 million during the quarter, compared to the consensus estimate of $660.00 million. On average, equities analysts expect that Cooper-Standard will post 3.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David John Mastrocola purchased 3,391 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $29.77 per share, for a total transaction of $100,950.07. Following the completion of the purchase, the director owned 25,000 shares of the company’s stock, valued at approximately $744,250. This trade represents a 15.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 6,885 shares of company stock valued at $208,144 in the last three months. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cooper-Standard

A number of hedge funds have recently bought and sold shares of CPS. Principal Financial Group Inc. bought a new position in Cooper-Standard in the third quarter worth about $669,000. Great Hill Capital LLC bought a new position in Cooper-Standard in the third quarter worth about $16,036,000. EVR Research LP bought a new position in Cooper-Standard in the third quarter worth about $6,463,000. Counterpoint Mutual Funds LLC bought a new position in Cooper-Standard in the third quarter worth about $517,000. Finally, JPMorgan Chase & Co. lifted its holdings in Cooper-Standard by 173.4% in the third quarter. JPMorgan Chase & Co. now owns 44,564 shares of the auto parts company’s stock worth $1,646,000 after acquiring an additional 28,264 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors and hedge funds.

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.