Cooper Tire & Rubber (NYSE:CTB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $44.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.83% from the stock’s current price.

According to Zacks, “The Zacks Consensus Estimate for Cooper Tire & Rubber Co.’s annual earnings has been going up of late. The company continues to expand its product portfolio with a focus to satisfy the market demand in all regions. It is also expanding its presence in Asia and Latin America through acquisitions and opening new sales offices. Also, it intends to reduce its manufacturing costs through increased automation in production facilities and consolidation of product family, which is expected to have a positive impact in its financials. Moreover, a strong balance sheet and frequent share repurchases by the company will boost shareholders value. Also, in the last six months, Cooper Tire & Rubber Co.’s shares have outperformed the industry it belongs to.”

A number of other research firms have also commented on CTB. FBR & Co reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a research note on Tuesday, October 31st. Northcoast Research raised shares of Cooper Tire & Rubber from a “neutral” rating to a “buy” rating in a research note on Wednesday. Jefferies Group reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Cooper Tire & Rubber in a research note on Tuesday, October 31st. B. Riley reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a research note on Monday, December 11th. Finally, ValuEngine raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Cooper Tire & Rubber has a consensus rating of “Buy” and a consensus target price of $45.29.

Cooper Tire & Rubber (NYSE:CTB) traded down $0.10 on Friday, reaching $39.70. 1,222,000 shares of the company’s stock were exchanged, compared to its average volume of 813,838. The company has a quick ratio of 1.59, a current ratio of 2.67 and a debt-to-equity ratio of 0.24. Cooper Tire & Rubber has a 52-week low of $31.55 and a 52-week high of $44.50. The company has a market cap of $2,030.00, a price-to-earnings ratio of 10.23 and a beta of 0.07.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Monday, October 30th. The company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.33. Cooper Tire & Rubber had a net margin of 8.54% and a return on equity of 21.44%. The company had revenue of $733.80 million for the quarter, compared to analyst estimates of $779.02 million. During the same period in the prior year, the firm posted $1.04 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. research analysts expect that Cooper Tire & Rubber will post 3.22 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CTB. Riverhead Capital Management LLC lifted its position in shares of Cooper Tire & Rubber by 75.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock valued at $145,000 after acquiring an additional 1,729 shares during the period. Flinton Capital Management LLC lifted its position in shares of Cooper Tire & Rubber by 76.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock valued at $161,000 after acquiring an additional 1,932 shares during the period. Advisory Services Network LLC lifted its position in shares of Cooper Tire & Rubber by 6.8% during the 2nd quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock valued at $172,000 after acquiring an additional 304 shares during the period. Worth Venture Partners LLC acquired a new position in shares of Cooper Tire & Rubber during the 2nd quarter valued at $235,000. Finally, M&T Bank Corp acquired a new position in shares of Cooper Tire & Rubber during the 2nd quarter valued at $243,000.

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About Cooper Tire & Rubber

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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