Cooper Standard (NYSE:CPS) announced that its board has initiated a stock repurchase plan, which allows the company to repurchase $150.00 million in outstanding shares on Wednesday, June 20th. This repurchase authorization allows the auto parts company to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Shares of Cooper Standard opened at $130.67 on Friday, MarketBeat Ratings reports. Cooper Standard has a 52-week low of $95.33 and a 52-week high of $142.08. The firm has a market capitalization of $2.36 billion, a PE ratio of 11.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.81 and a quick ratio of 1.58.
Cooper Standard (NYSE:CPS) last posted its quarterly earnings results on Wednesday, May 2nd. The auto parts company reported $3.45 EPS for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.54. Cooper Standard had a net margin of 4.08% and a return on equity of 25.10%. The company had revenue of $967.39 million during the quarter, compared to analyst estimates of $900.77 million. During the same period in the prior year, the business posted $2.95 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. equities research analysts forecast that Cooper Standard will post 12.15 EPS for the current year.
CPS has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Cooper Standard from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research note on Friday, May 4th. ValuEngine raised shares of Cooper Standard from a “hold” rating to a “buy” rating in a research note on Wednesday, June 13th. Finally, Bank of America boosted their price target on shares of Cooper Standard from $85.00 to $90.00 and gave the stock an “underperform” rating in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $123.20.
In other Cooper Standard news, VP Keith Dwayne Stephenson sold 8,343 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $132.49, for a total value of $1,105,364.07. Following the completion of the transaction, the vice president now directly owns 80,899 shares in the company, valued at approximately $10,718,308.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William Pumphrey sold 7,443 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $134.84, for a total transaction of $1,003,614.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,486 shares of company stock valued at $2,192,124 over the last quarter. 3.00% of the stock is currently owned by company insiders.
About Cooper Standard
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.
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