ValuEngine lowered shares of Cooper Tire & Rubber (NYSE:CTB) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Cooper Tire & Rubber from a hold rating to a buy rating and set a $44.00 target price on the stock in a research report on Friday, January 12th. Longbow Research started coverage on Cooper Tire & Rubber in a research report on Wednesday, January 31st. They issued a buy rating and a $50.00 target price on the stock. B. Riley reiterated a buy rating and issued a $50.00 target price on shares of Cooper Tire & Rubber in a research report on Monday, December 11th. JPMorgan Chase & Co. decreased their target price on Cooper Tire & Rubber from $43.00 to $40.00 and set an overweight rating on the stock in a research report on Wednesday, February 21st. Finally, TheStreet cut Cooper Tire & Rubber from a b rating to a c rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $43.63.
Shares of Cooper Tire & Rubber (NYSE:CTB) opened at $32.00 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.75 and a quick ratio of 1.73. The company has a market capitalization of $1,625.54, a PE ratio of 17.98 and a beta of 0.38. Cooper Tire & Rubber has a 52-week low of $30.55 and a 52-week high of $44.50.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.105 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.42 annualized dividend and a yield of 1.31%. Cooper Tire & Rubber’s payout ratio is currently 23.60%.
Hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP increased its stake in Cooper Tire & Rubber by 20.1% during the third quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock worth $2,111,000 after acquiring an additional 9,465 shares during the last quarter. American Century Companies Inc. increased its stake in Cooper Tire & Rubber by 29.5% during the third quarter. American Century Companies Inc. now owns 317,017 shares of the company’s stock worth $11,856,000 after acquiring an additional 72,195 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Cooper Tire & Rubber by 1,109.8% during the third quarter. Russell Investments Group Ltd. now owns 522,894 shares of the company’s stock valued at $19,556,000 after buying an additional 479,671 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Cooper Tire & Rubber by 2.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 282,044 shares of the company’s stock valued at $10,549,000 after buying an additional 6,367 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Cooper Tire & Rubber during the third quarter valued at approximately $299,000.
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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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