Cooper Tire & Rubber Company (NYSE:CTB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $41.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.18% from the company’s previous close.
According to Zacks, “Quarterly earnings estimates of Cooper Tire have been going up of late. It continues to expand its product portfolio with a focus to satisfy the market demand in all regions. It is also expanding its presence in Asia and Latin America through acquisitions and opening of new sales offices. Also, it intends to reduce its manufacturing costs through increased automation in production facilities and consolidation of product family, which is expected to have a positive impact on its financials. Moreover, a strong balance sheet and frequent share repurchases by the company will boost shareholders’ value.”
Several other research firms have also recently issued reports on CTB. BidaskClub upgraded shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 target price on shares of Cooper Tire & Rubber in a research note on Thursday, July 6th. Standpoint Research upgraded shares of Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research note on Tuesday, June 20th. Finally, Northcoast Research cut shares of Cooper Tire & Rubber from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.00.
Shares of Cooper Tire & Rubber (CTB) remained flat at $36.55 on Tuesday. The company had a trading volume of 217,259 shares. The stock has a 50 day moving average price of $36.65 and a 200 day moving average price of $38.73. Cooper Tire & Rubber has a one year low of $31.82 and a one year high of $44.50. The firm has a market capitalization of $1.93 billion, a PE ratio of 9.04 and a beta of -0.02.
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Several institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP acquired a new position in Cooper Tire & Rubber during the first quarter valued at approximately $110,000. Flinton Capital Management LLC purchased a new stake in shares of Cooper Tire & Rubber during the first quarter worth about $112,000. Creative Planning raised its stake in shares of Cooper Tire & Rubber by 5.3% in the first quarter. Creative Planning now owns 2,585 shares of the company’s stock worth $115,000 after buying an additional 129 shares during the period. Neuburgh Advisers LLC purchased a new stake in shares of Cooper Tire & Rubber during the first quarter worth about $136,000. Finally, LS Investment Advisors LLC raised its stake in shares of Cooper Tire & Rubber by 17.0% in the second quarter. LS Investment Advisors LLC now owns 4,311 shares of the company’s stock worth $156,000 after buying an additional 627 shares during the period. 94.58% of the stock is currently owned by institutional investors.
Cooper Tire & Rubber 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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