Cooper-Standard (NYSE:CPS) Announces Quarterly Earnings Results

Cooper-Standard (NYSE:CPS) released its quarterly earnings results on Wednesday. The auto parts company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.68), Zacks reports. The business had revenue of $721.35 million during the quarter, compared to analysts’ expectations of $708.90 million.

Cooper-Standard Price Performance

NYSE CPS traded up $4.38 during trading hours on Friday, hitting $32.01. The company’s stock had a trading volume of 132,516 shares, compared to its average volume of 198,408. Cooper-Standard has a 12 month low of $23.61 and a 12 month high of $47.98. The company’s 50 day simple moving average is $28.73 and its two-hundred day simple moving average is $30.78. The company has a market cap of $568.09 million, a P/E ratio of -10.18 and a beta of 2.00.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Cooper-Standard

A number of hedge funds have recently modified their holdings of CPS. Geneos Wealth Management Inc. grew its holdings in 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 valued at $39,000 after buying an additional 682 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Cooper-Standard by 136.5% in the second 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. BNP Paribas Financial Markets grew its stake in shares of Cooper-Standard by 101.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock worth $122,000 after buying an additional 1,658 shares in the last quarter. State of Wyoming bought a new position in shares of Cooper-Standard during the 4th quarter valued at approximately $190,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Cooper-Standard in the second quarter valued at $202,000. 69.11% of the stock is currently 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.