Cooper-Standard (NYSE:CPS) Shares Gap Down – Should You Sell?

Shares of Cooper-Standard Holdings Inc. (NYSE:CPS) 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 Upgrades and Downgrades

A number of research firms have recently issued reports on CPS. Zacks Research cut shares of Cooper-Standard from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Citigroup raised their target price on shares of Cooper-Standard from $35.00 to $43.65 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Stifel Nicolaus cut their target price on shares of Cooper-Standard to $55.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Weiss Ratings cut shares of Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $49.33.

Cooper-Standard Price Performance

The firm has a market capitalization of $512.18 million, a P/E ratio of -13.24 and a beta of 2.00. The business’s 50-day moving average is $30.17 and its 200 day moving average is $32.22.

Cooper-Standard (NYSE:CPS) last released its quarterly earnings results on Wednesday, May 6th. The auto parts company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). The company had revenue of $686.36 million for the quarter, compared to analyst estimates of $660.00 million. Analysts anticipate that Cooper-Standard Holdings Inc. will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Cooper-Standard news, Director David John Mastrocola purchased 3,391 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $29.77 per share, with a total value of $100,950.07. Following the completion of the transaction, the director owned 25,000 shares in the company, valued at $744,250. The trade was a 15.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 6,885 shares of company stock worth $208,144 over the last 90 days. 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 the business. Arkadios Wealth Advisors increased its position in Cooper-Standard by 0.5% during the fourth quarter. Arkadios Wealth Advisors now owns 50,748 shares of the auto parts company’s stock worth $1,666,000 after acquiring an additional 231 shares during the period. Intech Investment Management LLC increased its holdings in Cooper-Standard by 4.8% in the 4th quarter. Intech Investment Management LLC now owns 6,810 shares of the auto parts company’s stock valued at $224,000 after buying an additional 312 shares during the period. Cerity Partners LLC increased its holdings in Cooper-Standard by 3.3% in the 4th quarter. Cerity Partners LLC now owns 9,951 shares of the auto parts company’s stock valued at $327,000 after buying an additional 320 shares during the period. Deutsche Bank AG increased its holdings in Cooper-Standard by 1.0% in the 4th quarter. Deutsche Bank AG now owns 52,625 shares of the auto parts company’s stock valued at $1,728,000 after buying an additional 544 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Cooper-Standard by 60.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock valued at $39,000 after buying an additional 682 shares during the period. 69.11% of the stock is owned by institutional investors.

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.