Standpoint Research Upgrades Cooper Tire & Rubber Company (CTB) to “Accumulate”

Cooper Tire & Rubber Company (NYSE:CTB) was upgraded by equities research analysts at Standpoint Research from a “hold” rating to an “accumulate” rating in a report issued on Tuesday.

A number of other research firms have also issued reports on CTB. FBR & Co reiterated a “positive” rating and set a $48.00 price objective on shares of Cooper Tire & Rubber Company in a research note on Tuesday, February 21st. J P Morgan Chase & Co upgraded shares of Cooper Tire & Rubber Company from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $47.00 to $51.00 in a research note on Tuesday, March 14th. Northcoast Research lowered shares of Cooper Tire & Rubber Company from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 18th. Finally, Zacks Investment Research upgraded shares of Cooper Tire & Rubber Company from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 25th. Two 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. The company presently has an average rating of “Hold” and a consensus target price of $41.14.

Analyst Recommendations for Cooper Tire & Rubber Company (NYSE:CTB)

Shares of Cooper Tire & Rubber Company (NYSE CTB) traded up 0.70% during midday trading on Tuesday, reaching $36.00. 232,664 shares of the company traded hands. Cooper Tire & Rubber Company has a 12 month low of $29.29 and a 12 month high of $44.50. The company’s 50 day moving average is $36.99 and its 200-day moving average is $39.11. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.90 and a beta of 0.05.

Cooper Tire & Rubber Company (NYSE:CTB) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Cooper Tire & Rubber Company had a net margin of 7.54% and a return on equity of 20.38%. The business had revenue of $643.03 million during the quarter, compared to analysts’ expectations of $687.92 million. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts forecast that Cooper Tire & Rubber Company will post $3.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be paid a dividend of $0.105 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.17%. Cooper Tire & Rubber Company’s dividend payout ratio is currently 10.45%.

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Hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its stake in Cooper Tire & Rubber Company by 2.1% in the fourth quarter. New York State Teachers Retirement System now owns 4,900 shares of the company’s stock worth $190,000 after buying an additional 100 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Cooper Tire & Rubber Company during the fourth quarter worth about $6,472,000. Pacad Investment Ltd. raised its stake in Cooper Tire & Rubber Company by 1,073.6% in the fourth quarter. Pacad Investment Ltd. now owns 12,100 shares of the company’s stock worth $470,000 after buying an additional 11,069 shares in the last quarter. Allianz Asset Management AG raised its stake in Cooper Tire & Rubber Company by 8.7% in the fourth quarter. Allianz Asset Management AG now owns 163,686 shares of the company’s stock worth $6,359,000 after buying an additional 13,102 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Cooper Tire & Rubber Company during the fourth quarter worth about $311,000. Institutional investors own 94.58% of the company’s stock.

Cooper Tire & Rubber Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CTB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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