Cooper-Standard (NYSE:CPS) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Cooper-Standard (NYSE:CPS) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks reports.

A number of other research firms also recently issued reports on CPS. Weiss Ratings downgraded shares of Cooper-Standard from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Stifel Nicolaus lowered their price target on shares of Cooper-Standard from $53.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $37.83.

Cooper-Standard Price Performance

Shares of CPS opened at $19.77 on Tuesday. The company has a market capitalization of $351.40 million, a price-to-earnings ratio of -6.30 and a beta of 2.05. Cooper-Standard has a fifty-two week low of $19.47 and a fifty-two week high of $47.98. The business’s 50-day moving average is $23.92 and its 200-day moving average is $27.29.

Cooper-Standard (NYSE:CPS) last posted its quarterly earnings results on Thursday, August 6th. 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 analyst estimates of $708.90 million. Equities research analysts expect that Cooper-Standard will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cooper-Standard

Institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in Cooper-Standard by 15.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company’s stock valued at $8,662,000 after acquiring an additional 41,797 shares in the last quarter. Empowered Funds LLC bought a new stake in Cooper-Standard in the second quarter worth approximately $3,867,000. Bank of New York Mellon Corp bought a new stake in Cooper-Standard in the second quarter worth approximately $2,860,000. Canada Pension Plan Investment Board bought a new stake in Cooper-Standard in the second quarter worth approximately $2,121,000. Finally, BlackRock Inc. acquired a new position in shares of Cooper-Standard during the 2nd quarter worth $41,004,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

About Cooper-Standard

Cooper-Standard Holdings Inc is a global automotive supplier that develops and manufactures systems and components designed to support vehicle performance, comfort, safety and durability. The company serves original equipment manufacturers (OEMs) and other customers across the automotive industry.

Its primary product areas include sealing systems, fluid-handling systems and anti-vibration systems. These products include door and window seals, body sealing components, fuel and brake lines, fluid-transfer assemblies, hoses, and components that help reduce noise, vibration and harshness in vehicles.