Cooper Tire & Rubber (CTB) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Cooper Tire & Rubber (NYSE:CTB) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $44.00 price objective on the stock.

According to Zacks, “The Zacks Consensus Estimate for Cooper Tire & Rubber Co.’s annual earnings has been going up of late. The company 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 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 in its financials. Moreover, a strong balance sheet and frequent share repurchases by the company will boost shareholders value. Also, in the last six months, Cooper Tire & Rubber Co.’s shares have outperformed the industry it belongs to.”

Other equities research analysts also recently issued research reports about the stock. Northcoast Research raised shares of Cooper Tire & Rubber from a neutral rating to a buy rating in a research report on Wednesday, January 10th. Jefferies Group reaffirmed a hold rating and set a $35.00 price objective on shares of Cooper Tire & Rubber in a research report on Tuesday, October 31st. FBR & Co reaffirmed a buy rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a research report on Tuesday, October 31st. KeyCorp reaffirmed a buy rating and set a $42.00 price objective on shares of Cooper Tire & Rubber in a research report on Wednesday, November 1st. Finally, B. Riley reaffirmed a buy rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $45.29.

Shares of Cooper Tire & Rubber (NYSE CTB) opened at $39.85 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.67. Cooper Tire & Rubber has a 1 year low of $31.55 and a 1 year high of $44.50. The firm has a market cap of $2,043.26, a PE ratio of 10.27 and a beta of 0.07.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Monday, October 30th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.33. Cooper Tire & Rubber had a net margin of 7.18% and a return on equity of 17.56%. The business had revenue of $733.80 million during the quarter, compared to the consensus estimate of $779.02 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts expect that Cooper Tire & Rubber will post 3.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Thursday, November 30th. Cooper Tire & Rubber’s payout ratio is 10.82%.

A number of institutional investors have recently bought and sold shares of CTB. Deprince Race & Zollo Inc. boosted its stake in Cooper Tire & Rubber by 3,781.2% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,139,284 shares of the company’s stock valued at $42,609,000 after purchasing an additional 1,109,930 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Cooper Tire & Rubber by 1,109.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 522,894 shares of the company’s stock worth $19,556,000 after acquiring an additional 479,671 shares during the period. Fairpointe Capital LLC lifted its stake in shares of Cooper Tire & Rubber by 14.8% in the 2nd quarter. Fairpointe Capital LLC now owns 3,377,104 shares of the company’s stock worth $121,914,000 after acquiring an additional 436,279 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cooper Tire & Rubber by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,430,014 shares of the company’s stock worth $123,824,000 after acquiring an additional 350,313 shares during the period. Finally, UBS Oconnor LLC lifted its stake in shares of Cooper Tire & Rubber by 220.0% in the 2nd quarter. UBS Oconnor LLC now owns 240,000 shares of the company’s stock worth $8,664,000 after acquiring an additional 165,000 shares during the period.

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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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Analyst Recommendations for Cooper Tire & Rubber (NYSE:CTB)

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