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

Cooper-Standard (NYSE:CPS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

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

Cooper-Standard Stock Performance

CPS opened at $29.00 on Tuesday. The firm has a market cap of $514.73 million, a P/E ratio of -13.30 and a beta of 1.99. The firm has a 50-day moving average of $28.50 and a 200 day moving average of $31.09. Cooper-Standard has a fifty-two week low of $22.93 and a fifty-two week high of $47.98.

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

Institutional Investors Weigh In On Cooper-Standard

Institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its position in Cooper-Standard by 53.4% during the first quarter. Quantinno Capital Management LP now owns 12,281 shares of the auto parts company’s stock worth $342,000 after purchasing an additional 4,275 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Cooper-Standard by 60.9% in the first quarter. Public Employees Retirement System of Ohio now owns 19,981 shares of the auto parts company’s stock worth $557,000 after purchasing an additional 7,566 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Cooper-Standard by 15.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company’s stock valued at $8,662,000 after purchasing an additional 41,797 shares during the period. Sei Investments Co. raised its position in shares of Cooper-Standard by 200.8% in the first quarter. Sei Investments Co. now owns 35,113 shares of the auto parts company’s stock valued at $979,000 after purchasing an additional 23,440 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cooper-Standard by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 408,205 shares of the auto parts company’s stock valued at $11,376,000 after buying an additional 23,620 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other 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.