Zacks Investment Research upgraded shares of ChoicePoint (NYSE:CPS) from a strong sell rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “Cooper Standard is well placed in terms of generation of new business and is in line with its cost-saving initiatives and lowering SGA&E expenses. Off late, the company is continuing with its key strategic initiatives and investing in profitable growth. Product technology and innovation are aiding the company to gain new customers and in expansion opportunities along with the existing ones. Over the past three months, shares of Cooper Standard have underperformed the industry it belongs to. The company expects to see commodity cost inflation on certain raw material, given the volatility in steel and aluminum prices. Also, it expects the pricing pressure from customers to continue, which will hamper its financials. Moreover, trade and tariff disputes and rising interest rates are other headwinds for the company.”
Several other research analysts have also recently issued reports on CPS. ValuEngine cut ChoicePoint from a hold rating to a sell rating in a research report on Wednesday, December 26th. Bank of America reaffirmed an underperform rating and set a $77.00 price objective (down from $90.00) on shares of ChoicePoint in a research report on Monday, November 5th. Buckingham Research lowered their price objective on ChoicePoint from $165.00 to $140.00 and set a buy rating for the company in a research report on Wednesday, October 3rd. Finally, Roth Capital set a $130.00 price objective on ChoicePoint and gave the stock a buy rating in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. ChoicePoint has a consensus rating of Hold and an average target price of $104.25.
CPS traded up $0.30 on Monday, hitting $70.00. 40,465 shares of the company were exchanged, compared to its average volume of 193,658. ChoicePoint has a twelve month low of $56.68 and a twelve month high of $146.77. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.67 and a quick ratio of 1.44.
ChoicePoint (NYSE:CPS) last released its quarterly earnings data on Friday, November 2nd. The auto parts company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($1.16). The business had revenue of $861.70 million for the quarter, compared to analyst estimates of $851.09 million. ChoicePoint had a return on equity of 22.00% and a net margin of 4.31%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 earnings per share. On average, research analysts anticipate that ChoicePoint will post 9.38 earnings per share for the current year.
In other news, Director Matthew Simoncini bought 5,500 shares of ChoicePoint stock in a transaction dated Monday, November 5th. The stock was acquired at an average cost of $72.48 per share, with a total value of $398,640.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey S. Edwards bought 13,200 shares of ChoicePoint stock in a transaction dated Wednesday, November 7th. The stock was purchased at an average cost of $74.12 per share, with a total value of $978,384.00. Following the completion of the acquisition, the chairman now directly owns 100,676 shares in the company, valued at approximately $7,462,105.12. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC lifted its holdings in shares of ChoicePoint by 3.3% in the 3rd quarter. Teachers Advisors LLC now owns 35,870 shares of the auto parts company’s stock valued at $4,304,000 after purchasing an additional 1,153 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of ChoicePoint by 44.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 11,879 shares of the auto parts company’s stock valued at $1,425,000 after purchasing an additional 3,653 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ChoicePoint in the 3rd quarter valued at about $3,803,000. Affinity Investment Advisors LLC lifted its holdings in shares of ChoicePoint by 88.9% in the 3rd quarter. Affinity Investment Advisors LLC now owns 2,947 shares of the auto parts company’s stock valued at $354,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Commonwealth Bank of Australia purchased a new stake in ChoicePoint during the 3rd quarter valued at approximately $251,000. 95.87% of the stock is owned by institutional investors and hedge funds.
ChoicePoint 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.
See Also: Net Asset Value
Get a free copy of the Zacks research report on ChoicePoint (CPS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ChoicePoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChoicePoint and related companies with MarketBeat.com's FREE daily email newsletter.