Cooper-Standard (NYSE:CPS) Stock Rating Lowered by Zacks Research

Cooper-Standard (NYSE:CPS) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Several other brokerages have also commented on CPS. Weiss Ratings lowered Cooper-Standard from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. Stifel Nicolaus reduced their price objective on Cooper-Standard from $53.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $37.83.

Cooper-Standard Stock Down 3.3%

CPS stock opened at $19.77 on Tuesday. The company has a market cap of $351.40 million, a price-to-earnings ratio of -6.30 and a beta of 2.05. The business has a fifty day simple moving average of $23.92 and a 200-day simple moving average of $27.29. Cooper-Standard has a 52 week low of $19.47 and a 52 week high of $47.98.

Cooper-Standard (NYSE:CPS) last issued its earnings results on Thursday, August 6th. The auto parts company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.67). The company had revenue of $721.35 million during the quarter, compared to analyst estimates of $708.90 million. As a group, analysts expect that Cooper-Standard will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cooper-Standard

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new stake in Cooper-Standard during the 2nd quarter worth $47,000. Fiduciary Alliance LLC increased its holdings in Cooper-Standard by 0.5% during the 1st quarter. Fiduciary Alliance LLC now owns 503,971 shares of the auto parts company’s stock worth $15,376,000 after purchasing an additional 2,598 shares during the last quarter. Great Hill Capital LLC raised its position in shares of Cooper-Standard by 1.0% in the 3rd quarter. Great Hill Capital LLC now owns 333,080 shares of the auto parts company’s stock valued at $6,941,000 after purchasing an additional 3,342 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Cooper-Standard by 5.8% in the 2nd quarter. Squarepoint Ops LLC now owns 72,214 shares of the auto parts company’s stock valued at $1,953,000 after purchasing an additional 3,942 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Cooper-Standard by 29.1% during the 1st quarter. Inspire Investing LLC now owns 18,428 shares of the auto parts company’s stock valued at $514,000 after buying an additional 4,157 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company’s stock.

About Cooper-Standard

Cooper-Standard Holdings Inc is a global automotive supplier that develops and manufactures systems and components designed to support vehicle performance, comfort, safety and durability. The company serves original equipment manufacturers (OEMs) and other customers across the automotive industry.

Its primary product areas include sealing systems, fluid-handling systems and anti-vibration systems. These products include door and window seals, body sealing components, fuel and brake lines, fluid-transfer assemblies, hoses, and components that help reduce noise, vibration and harshness in vehicles.