Canada Pension Plan Investment Board Acquires Shares of 78,400 Cooper-Standard Holdings Inc. $CPS

Canada Pension Plan Investment Board acquired a new stake in Cooper-Standard Holdings Inc. (NYSE:CPS) in the second quarter, Holdings Channel reports. The institutional investor acquired 78,400 shares of the auto parts company’s stock, valued at approximately $2,121,000.

A number of other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Cooper-Standard by 15.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company’s stock worth $8,662,000 after buying an additional 41,797 shares during the period. Waystone Advisors LLC acquired a new stake in Cooper-Standard in the 4th quarter valued at $1,482,000. EVR Research LP increased its holdings in Cooper-Standard by 114.3% in the 4th quarter. EVR Research LP now owns 375,000 shares of the auto parts company’s stock worth $12,311,000 after acquiring an additional 200,000 shares in the last quarter. Sei Investments Co. increased its holdings in Cooper-Standard by 200.8% in the 1st quarter. Sei Investments Co. now owns 35,113 shares of the auto parts company’s stock worth $979,000 after acquiring an additional 23,440 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in Cooper-Standard during the first quarter worth $2,164,000. Institutional investors and hedge funds own 69.11% of the company’s stock.

Wall Street Analysts Forecast Growth

CPS has been the topic of several recent analyst reports. Weiss Ratings raised shares of Cooper-Standard from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Stifel Nicolaus cut their target price 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 downgraded shares of Cooper-Standard from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cooper-Standard currently has a consensus rating of “Reduce” and a consensus price target of $48.33.

Cooper-Standard Stock Performance

Shares of CPS stock opened at $26.80 on Monday. The stock’s fifty day moving average is $28.10 and its two-hundred day moving average is $30.26. The firm has a market capitalization of $476.24 million, a P/E ratio of -8.54 and a beta of 2.00. Cooper-Standard Holdings Inc. has a fifty-two week low of $25.27 and a fifty-two week high of $47.98.

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

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.