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

Cooper-Standard Holdings Inc. (NYSE:CPS)’s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

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

Cooper-Standard Trading Down 0.2%

The company has a 50 day moving average price of $30.48 and a 200 day moving average price of $32.35. The firm has a market cap 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 results on Wednesday, May 6th. The auto parts company reported ($0.29) EPS 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 analyst estimates of $660.00 million. As a group, equities research analysts anticipate that Cooper-Standard Holdings Inc. will post 3.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David John Mastrocola acquired 3,391 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $29.77 per share, for a total transaction of $100,950.07. Following the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $744,250. This trade represents a 15.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders purchased 6,885 shares of company stock worth $208,144. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CPS. State of Alaska Department of Revenue acquired a new position in shares of Cooper-Standard during the 3rd quarter worth approximately $30,000. Geneos Wealth Management Inc. raised its position in shares of 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 last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 last quarter. New York State Teachers Retirement System acquired a new position in shares of Cooper-Standard during the 3rd quarter worth approximately $57,000. Finally, AlphaQuest LLC raised its position in shares of Cooper-Standard by 593.3% during the 3rd quarter. AlphaQuest LLC now owns 3,307 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 2,830 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.