Cooper-Standard (NYSE:CPS) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Cooper-Standard (NYSE:CPS) from a hold rating to a strong sell rating in a research note released on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on CPS. Weiss Ratings reissued a “sell (d-)” rating on shares of Cooper-Standard in a research note on Friday, May 22nd. Wall Street Zen cut shares of Cooper-Standard from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Stifel Nicolaus lowered their target price on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $48.33.

Cooper-Standard Stock Up 1.1%

Shares of CPS stock opened at $29.32 on Tuesday. The firm has a market cap of $520.50 million, a price-to-earnings ratio of -13.45 and a beta of 1.99. Cooper-Standard has a 12 month low of $22.97 and a 12 month high of $47.98. The stock has a 50-day moving average price of $28.51 and a 200 day moving average price of $31.06.

Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). The business had revenue of $686.36 million for the quarter, compared to the consensus estimate of $660.00 million. Sell-side analysts predict that Cooper-Standard will post 2.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPS. Royal Bank of Canada raised its position in shares of Cooper-Standard by 343.0% during the first quarter. Royal Bank of Canada now owns 25,628 shares of the auto parts company’s stock worth $393,000 after purchasing an additional 19,843 shares during the period. AQR Capital Management LLC increased its stake in Cooper-Standard by 1,345.8% during the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock worth $2,321,000 after purchasing an additional 141,049 shares in the last quarter. Millennium Management LLC increased its stake in Cooper-Standard by 89.9% during the 1st quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock worth $4,765,000 after purchasing an additional 147,209 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Cooper-Standard by 21.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company’s stock worth $3,286,000 after buying an additional 38,489 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in Cooper-Standard during the 2nd quarter worth approximately $202,000. 69.11% of the stock is 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.