Cooper-Standard (NYSE:CPS) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Cooper-Standard Holdings Inc. (NYSE:CPS)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.48 and traded as low as $26.46. Cooper-Standard shares last traded at $26.5040, with a volume of 187,741 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CPS. Weiss Ratings raised Cooper-Standard from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Stifel Nicolaus decreased their target price on Cooper-Standard from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Zacks Research downgraded Cooper-Standard from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $48.33.

Cooper-Standard Price Performance

The firm’s 50 day moving average price is $28.27 and its 200-day moving average price is $30.43. The firm has a market cap of $473.39 million, a price-to-earnings ratio of -8.48 and a beta of 2.00.

Cooper-Standard (NYSE:CPS) last released its earnings results on Wednesday, August 5th. The auto parts company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.54 by ($0.67). The company had revenue of $721.35 million for the quarter, compared to analysts’ expectations of $708.90 million. Analysts expect that Cooper-Standard Holdings Inc. will post 2.71 EPS for the current year.

Institutional Investors Weigh In On Cooper-Standard

Hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its stake in Cooper-Standard by 60.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 682 shares during the period. Legal & General Group Plc bought a new stake in shares of Cooper-Standard in the 2nd quarter worth approximately $47,000. Tower Research Capital LLC TRC lifted its position in shares of Cooper-Standard by 136.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock worth $53,000 after acquiring an additional 1,432 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Cooper-Standard by 101.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,293 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 1,658 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Cooper-Standard during the second quarter valued at approximately $127,000. Institutional investors own 69.11% of the company’s stock.

Cooper-Standard Company Profile

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.