Cooper-Standard (NYSE:CPS) Stock Price Down 5.9% – Here’s Why

Shares of Cooper-Standard Holdings Inc. (NYSE:CPS) fell 5.9% during trading on Monday . The stock traded as low as $30.08 and last traded at $29.5410. 11,257 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 198,890 shares. The stock had previously closed at $31.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cooper-Standard in a report on Friday, May 22nd. Finally, Zacks Research downgraded Cooper-Standard from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. One equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $48.33.

Cooper-Standard Price Performance

The stock has a 50-day moving average price of $28.75 and a 200-day moving average price of $30.78. The company has a market capitalization of $520.78 million, a P/E ratio of -9.34 and a beta of 2.00.

Cooper-Standard (NYSE:CPS) last announced its earnings results on Wednesday, August 5th. The auto parts company reported ($0.13) EPS 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. Sell-side analysts anticipate that Cooper-Standard Holdings Inc. will post 2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Cooper-Standard

A number of institutional investors have recently modified their holdings of CPS. Arkadios Wealth Advisors boosted its holdings in Cooper-Standard by 0.5% in 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 in the last quarter. Intech Investment Management LLC increased its holdings in shares of Cooper-Standard by 4.8% during the fourth quarter. Intech Investment Management LLC now owns 6,810 shares of the auto parts company’s stock valued at $224,000 after acquiring an additional 312 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Cooper-Standard by 3.3% during the fourth quarter. Cerity Partners LLC now owns 9,951 shares of the auto parts company’s stock valued at $327,000 after acquiring an additional 320 shares in the last quarter. Deutsche Bank AG raised its position in shares of Cooper-Standard by 1.0% during the fourth quarter. Deutsche Bank AG now owns 52,625 shares of the auto parts company’s stock worth $1,728,000 after purchasing an additional 544 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Cooper-Standard by 60.8% during the second 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. 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.