Cooper-Standard Holdings Inc (NYSE:CPS) Sees Large Increase in Short Interest

Cooper-Standard Holdings Inc (NYSE:CPS) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 922,200 shares, a growth of 24.7% from the October 31st total of 739,800 shares. Currently, 5.6% of the shares of the stock are short sold. Based on an average trading volume of 226,700 shares, the days-to-cover ratio is currently 4.1 days.

CPS stock traded up $0.42 on Thursday, reaching $29.32. The company had a trading volume of 278,326 shares, compared to its average volume of 314,775. Cooper-Standard has a 1 year low of $26.42 and a 1 year high of $77.77. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.51 and a current ratio of 1.76. The company’s fifty day moving average is $32.96 and its 200 day moving average is $39.60. The company has a market cap of $497.42 million, a P/E ratio of 3.34 and a beta of 1.64.

Cooper-Standard (NYSE:CPS) last posted its earnings results on Tuesday, November 5th. The auto parts company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($1.13). Cooper-Standard had a net margin of 3.23% and a return on equity of 4.41%. The company had revenue of $729.02 million during the quarter, compared to analysts’ expectations of $688.47 million. During the same period in the previous year, the company posted $1.05 EPS. Cooper-Standard’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Cooper-Standard will post 0.14 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its holdings in Cooper-Standard by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 25,278 shares of the auto parts company’s stock valued at $1,158,000 after acquiring an additional 263 shares during the last quarter. Aperio Group LLC raised its holdings in Cooper-Standard by 96.6% in the 2nd quarter. Aperio Group LLC now owns 12,086 shares of the auto parts company’s stock valued at $554,000 after acquiring an additional 5,940 shares during the last quarter. M&T Bank Corp raised its holdings in Cooper-Standard by 48.9% in the 2nd quarter. M&T Bank Corp now owns 6,605 shares of the auto parts company’s stock valued at $302,000 after acquiring an additional 2,168 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Cooper-Standard by 12.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 59,069 shares of the auto parts company’s stock valued at $2,647,000 after acquiring an additional 6,610 shares during the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in Cooper-Standard in the 2nd quarter valued at $840,000. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on CPS shares. Buckingham Research lowered Cooper-Standard from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $32.00 in a research note on Wednesday, October 16th. Roth Capital reaffirmed a “buy” rating and issued a $47.00 target price on shares of Cooper-Standard in a research note on Thursday, September 26th. Finally, ValuEngine lowered Cooper-Standard from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.75.

Cooper-Standard Company Profile

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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