OppenheimerFunds Inc. lowered its stake in Cooper Standard Holdings Inc (NYSE:CPS) by 7.0% during the 1st quarter, HoldingsChannel reports. The firm owned 18,425 shares of the auto parts company’s stock after selling 1,392 shares during the quarter. OppenheimerFunds Inc.’s holdings in Cooper Standard were worth $2,263,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Elkfork Partners LLC purchased a new stake in Cooper Standard in the 4th quarter worth $186,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Cooper Standard in the 1st quarter worth $201,000. Sawgrass Asset Management LLC purchased a new stake in Cooper Standard in the 4th quarter worth $227,000. Xact Kapitalforvaltning AB purchased a new stake in Cooper Standard in the 4th quarter worth $228,000. Finally, AMP Capital Investors Ltd purchased a new stake in Cooper Standard in the 4th quarter worth $282,000. Institutional investors and hedge funds own 96.25% of the company’s stock.
Several analysts have commented on the stock. ValuEngine upgraded shares of Cooper Standard from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research cut shares of Cooper Standard from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Bank of America upped their target price on shares of Cooper Standard from $85.00 to $90.00 and gave the company an “underperform” rating in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $123.20.
In other news, insider Sharon Wenzl sold 700 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $118.78, for a total transaction of $83,146.00. Following the sale, the insider now directly owns 1,046 shares in the company, valued at approximately $124,243.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Keith Dwayne Stephenson sold 8,343 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $132.49, for a total transaction of $1,105,364.07. Following the sale, the vice president now owns 80,899 shares in the company, valued at $10,718,308.51. The disclosure for this sale can be found here. Insiders have sold a total of 16,486 shares of company stock worth $2,192,124 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Shares of Cooper Standard opened at $139.02 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.58 and a current ratio of 1.81. The stock has a market cap of $2.51 billion, a PE ratio of 12.01 and a beta of 0.73. Cooper Standard Holdings Inc has a 12-month low of $95.33 and a 12-month high of $140.69.
Cooper Standard (NYSE:CPS) last announced its earnings results on Wednesday, May 2nd. The auto parts company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.54. The firm had revenue of $967.39 million for the quarter, compared to analysts’ expectations of $900.77 million. Cooper Standard had a net margin of 4.08% and a return on equity of 25.10%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 EPS. sell-side analysts expect that Cooper Standard Holdings Inc will post 12.15 EPS for the current year.
Cooper Standard Company Profile
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
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