Cooper Tire & Rubber Co (NYSE:CTB) was downgraded by investment analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a report released on Tuesday, April 18th.
Other research analysts have also recently issued research reports about the company. FBR & Co upped their target price on Cooper Tire & Rubber Co from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, March 23rd. JPMorgan Chase & Co. raised Cooper Tire & Rubber Co from a “neutral” rating to an “overweight” rating and upped their target price for the company from $47.00 to $51.00 in a research note on Tuesday, March 14th. Finally, Zacks Investment Research cut Cooper Tire & Rubber Co from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.
Cooper Tire & Rubber Co (NYSE:CTB) traded up 0.628% during midday trading on Tuesday, hitting $36.025. The stock had a trading volume of 305,016 shares. The company has a market cap of $1.91 billion and a P/E ratio of 8.910. The firm’s 50-day moving average price is $40.97 and its 200 day moving average price is $39.19. Cooper Tire & Rubber Co has a 12 month low of $29.29 and a 12 month high of $44.50.
Cooper Tire & Rubber Co (NYSE:CTB) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Cooper Tire & Rubber Co had a return on equity of 23.13% and a net margin of 8.17%. The company had revenue of $643.03 million for the quarter, compared to the consensus estimate of $687.92 million. During the same period in the previous year, the firm earned $1.05 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. On average, analysts expect that Cooper Tire & Rubber Co will post $3.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.42 annualized dividend and a dividend yield of 1.17%. Cooper Tire & Rubber Co’s dividend payout ratio is presently 9.86%.
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In other news, VP Stephen Zamansky sold 14,041 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $40.37, for a total transaction of $566,835.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CTB. BlackRock Inc. increased its position in Cooper Tire & Rubber Co by 36,940.2% in the first quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock valued at $255,971,000 after buying an additional 5,756,018 shares during the last quarter. Royce & Associates LP increased its position in Cooper Tire & Rubber Co by 156.4% in the fourth quarter. Royce & Associates LP now owns 1,860,142 shares of the company’s stock valued at $72,267,000 after buying an additional 1,134,598 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Cooper Tire & Rubber Co during the third quarter valued at about $40,594,000. Norges Bank bought a new stake in shares of Cooper Tire & Rubber Co during the fourth quarter valued at $29,062,000. Finally, State Street Corp increased its stake in shares of Cooper Tire & Rubber Co by 57.0% in the first quarter. State Street Corp now owns 1,758,619 shares of the company’s stock valued at $77,994,000 after buying an additional 638,424 shares in the last quarter. 90.09% of the stock is currently owned by hedge funds and other institutional investors.
Cooper Tire & Rubber Co 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.
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