According to Zacks, “Cooper Tire has underperformed the Zacks categorized Rubber-Tires industry over the last three months. The company operates in a competitive industry with high dependence on commodity prices. Moreover, it faces supply risk from CCT that has been sold to its Chinese JV partner. Cooper Tire aims to attain operating margin over 10% and net sales of $5–$6 billion per annum in the long term. Cooper Tire has a positive record of earnings estimates in recent quarters.”
Other research analysts also recently issued research reports about the stock. Jefferies Group restated a hold rating and set a $37.00 price objective on shares of Cooper Tire & Rubber Company in a research report on Wednesday, October 19th. Off Wall Street restated a sell rating and set a $22.00 price objective on shares of Cooper Tire & Rubber Company in a research report on Monday, November 7th. FBR & Co reaffirmed a buy rating and set a $48.00 target price on shares of Cooper Tire & Rubber Company in a report on Thursday, November 3rd. KeyCorp initiated coverage on shares of Cooper Tire & Rubber Company in a report on Wednesday, November 16th. They set an overweight rating for the company. Finally, Standpoint Research cut shares of Cooper Tire & Rubber Company from a buy rating to a hold rating in a report on Friday, October 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Cooper Tire & Rubber Company currently has an average rating of Hold and a consensus price target of $39.30.
Shares of Cooper Tire & Rubber Company (NYSE:CTB) traded down 0.82% on Tuesday, reaching $36.45. 395,088 shares of the company’s stock traded hands. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 8.53 and a beta of 0.04. The firm’s 50-day moving average is $38.74 and its 200-day moving average is $35.48. Cooper Tire & Rubber Company has a 52-week low of $29.29 and a 52-week high of $40.75.
Cooper Tire & Rubber Company (NYSE:CTB) last issued its quarterly earnings data on Monday, October 31st. The company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.03. The company had revenue of $751 million for the quarter, compared to the consensus estimate of $689.09 million. Cooper Tire & Rubber Company had a net margin of 8.17% and a return on equity of 23.13%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Analysts anticipate that Cooper Tire & Rubber Company will post $4.33 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Friday, December 2nd were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.42 annualized dividend and a yield of 1.14%. Cooper Tire & Rubber Company’s dividend payout ratio (DPR) is currently 9.86%.
In other Cooper Tire & Rubber Company news, Director John J. Holland sold 4,000 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $37.86, for a total transaction of $151,440.00. Following the completion of the transaction, the director now owns 5,913 shares in the company, valued at $223,866.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new position in Cooper Tire & Rubber Company during the second quarter valued at approximately $2,318,000. Swiss National Bank raised its position in Cooper Tire & Rubber Company by 3.5% in the second quarter. Swiss National Bank now owns 92,300 shares of the company’s stock valued at $2,752,000 after buying an additional 3,100 shares during the period. New Jersey Better Educational Savings Trust acquired a new position in Cooper Tire & Rubber Company during the second quarter valued at approximately $626,000. TrimTabs Asset Management LLC purchased a new stake in Cooper Tire & Rubber Company during the second quarter valued at about $1,389,000. Finally, ClariVest Asset Management LLC raised its stake in Cooper Tire & Rubber Company by 6.8% in the second quarter. ClariVest Asset Management LLC now owns 135,273 shares of the company’s stock valued at $4,034,000 after buying an additional 8,662 shares during the period. Institutional investors and hedge funds own 91.61% of the company’s stock.
About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries sell medium truck, motorcycle and racing tires. It has four business segments: North America, composed of its operations in the United States and Canada; Latin America, composed of its operations in Mexico, Central America and South America; Europe, and Asia.
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