Cooper-Standard (NYSE:CPS) Shares Gap Up on Insider Buying Activity

Cooper-Standard Holdings Inc. (NYSE:CPS)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $29.26, but opened at $31.40. Cooper-Standard shares last traded at $31.24, with a volume of 42,803 shares changing hands.

Specifically, Director David John Mastrocola purchased 3,391 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $29.77 per share, for a total transaction of $100,950.07. Following the acquisition, the director directly owned 25,000 shares in the company, valued at approximately $744,250. The trade was a 15.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David John Mastrocola purchased 1,494 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $30.25 per share, for a total transaction of $45,193.50. Following the completion of the purchase, the director directly owned 21,609 shares of the company’s stock, valued at $653,672.25. The trade was a 7.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other news, Director David John Mastrocola acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average cost of $31.00 per share, for a total transaction of $62,000.00. Following the completion of the acquisition, the director owned 20,115 shares in the company, valued at approximately $623,565. The trade was a 11.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

CPS has been the topic of a number of recent research reports. Weiss Ratings downgraded Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. Citigroup lifted their price target on Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Stifel Nicolaus boosted their price target on Cooper-Standard from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Zacks Research upgraded Cooper-Standard from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Wall Street Zen lowered shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.33.

Cooper-Standard Stock Up 5.0%

The business has a 50-day simple moving average of $34.61 and a two-hundred day simple moving average of $34.18. The company has a market cap of $541.88 million, a price-to-earnings ratio of -128.00 and a beta of 1.88.

Cooper-Standard (NYSE:CPS) last issued its quarterly earnings data on Friday, February 13th. The auto parts company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.78). The firm had revenue of $672.37 million during the quarter, compared to analyst estimates of $641.51 million.

Hedge Funds Weigh In On Cooper-Standard

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Cooper-Standard in the third quarter worth $30,000. Geneos Wealth Management Inc. increased its stake in shares of Cooper-Standard by 60.8% in 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. Tower Research Capital LLC TRC lifted 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 bought a new stake in shares of Cooper-Standard in the third quarter valued at approximately $57,000. Finally, Abound Wealth Management bought a new stake in Cooper-Standard in the 3rd quarter valued at $116,000. Institutional investors and hedge funds own 69.11% of the company’s stock.

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.