Cooper Tire & Rubber Company (CTB) Stock Rating Reaffirmed by Jefferies Group LLC
Jefferies Group LLC reiterated their hold rating on shares of Cooper Tire & Rubber Company (NYSE:CTB) in a report issued on Tuesday. The brokerage currently has a $35.00 price target on the stock. Jefferies Group also issued estimates for Cooper Tire & Rubber’s Q4 2017 earnings at $0.66 EPS and FY2017 earnings at $3.26 EPS.
A number of other equities research analysts also recently issued reports on the company. FBR & Co restated a buy rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a research report on Tuesday. Zacks Investment Research downgraded Cooper Tire & Rubber from a hold rating to a sell rating in a research report on Tuesday, October 10th. Deutsche Bank AG upped their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a hold rating in a research report on Monday, August 7th. Finally, BidaskClub downgraded Cooper Tire & Rubber from a hold rating to a sell rating in a research report on Saturday, August 5th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $40.86.
Cooper Tire & Rubber (NYSE CTB) opened at $32.00 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.67 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.04 and a beta of -0.01.
Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings results on Monday, October 30th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.33. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. The company had revenue of $733.80 million during the quarter, compared to analyst estimates of $779.02 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. equities analysts anticipate that Cooper Tire & Rubber will post 3.26 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.31%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 10.82%.
Several hedge funds and other institutional investors have recently modified their holdings of CTB. FNY Partners Fund LP purchased a new stake in shares of Cooper Tire & Rubber in the first quarter worth approximately $110,000. Riverhead Capital Management LLC raised its holdings in shares of Cooper Tire & Rubber by 75.2% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock worth $145,000 after buying an additional 1,729 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Cooper Tire & Rubber by 17.0% in the second quarter. LS Investment Advisors LLC now owns 4,311 shares of the company’s stock worth $156,000 after buying an additional 627 shares during the period. Flinton Capital Management LLC raised its holdings in shares of Cooper Tire & Rubber by 76.7% in the second quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock worth $161,000 after buying an additional 1,932 shares during the period. Finally, Advisory Services Network LLC raised its holdings in shares of Cooper Tire & Rubber by 6.8% in the second quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock worth $172,000 after buying an additional 304 shares during the period.
Cooper Tire & Rubber Company Profile
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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