Cooper-Standard (NYSE:CPS) Posts Earnings Results, Misses Expectations By $0.68 EPS

Cooper-Standard (NYSE:CPS) announced its quarterly earnings data on Wednesday. The auto parts company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.68), Zacks reports.

Cooper-Standard Stock Up 0.7%

Shares of NYSE:CPS traded up $0.22 on Wednesday, hitting $30.98. The company had a trading volume of 227,615 shares, compared to its average volume of 154,502. The firm’s 50-day simple moving average is $28.79 and its two-hundred day simple moving average is $30.81. Cooper-Standard has a 1 year low of $23.61 and a 1 year high of $47.98. The firm has a market capitalization of $549.98 million, a price-to-earnings ratio of -14.21 and a beta of 2.00.

Hedge Funds Weigh In On Cooper-Standard

Several hedge funds and other institutional investors have recently modified their holdings of CPS. Vanguard Group Inc. lifted its holdings in Cooper-Standard by 3.1% in the third quarter. Vanguard Group Inc. now owns 976,604 shares of the auto parts company’s stock worth $36,066,000 after buying an additional 29,800 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cooper-Standard by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 422,689 shares of the auto parts company’s stock valued at $13,880,000 after purchasing an additional 13,143 shares during the period. Millennium Management LLC boosted its position in shares of Cooper-Standard by 89.9% during the first quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock valued at $4,765,000 after purchasing an additional 147,209 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Cooper-Standard by 336.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 274,642 shares of the auto parts company’s stock valued at $10,143,000 after purchasing an additional 211,768 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Cooper-Standard by 255.3% during the fourth quarter. Stifel Financial Corp now owns 247,867 shares of the auto parts company’s stock valued at $8,137,000 after purchasing an additional 178,102 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CPS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cooper-Standard in a 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 for the company in a research note on Monday, July 20th. Finally, Zacks Research lowered shares of Cooper-Standard from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Cooper-Standard has an average rating of “Reduce” and an average price target of $48.33.

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.