Cooper Tire & Rubber Co. (CTB) Rating Reiterated by FBR & Co

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Cooper Tire & Rubber Co. (NYSE:CTB)‘s stock had its “buy” rating reaffirmed by analysts at FBR & Co in a research note issued to investors on Thursday. They presently have a $48.00 price target on the stock. FBR & Co’s price objective indicates a potential upside of 32.93% from the stock’s current price.
The analysts wrote, “We recently traveled with Cooper Tire & Rubber and are providing investors with four key takeaways that we believe continue to frame our investment thesis and answer some of the debate around CTB shares. With the DOC’s announcement of preliminary tariff levels on Chinese-made TBR tires, a critical debate that we think was a sticking point for some investors is now behind us. Fundamentals like pricing and volume are back in the spotlight, and in both cases Cooper seems well positioned. A slow climb in raw material pricing could flow down to consumers, and Cooper’s healthy new business pipeline in the OE market could present an opportunity to outpace the low-single-digit industry growth. Additionally, we believe that Cooper’s investments into rubber derived from the U.S.-grown guayule plant offer input cost savings over the long term that are not well-known.””
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Cooper Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, August 10th. Northcoast Research upgraded Cooper Tire & Rubber Co. from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Tuesday, July 26th. Standpoint Research assumed coverage on Cooper Tire & Rubber Co. in a research note on Friday, May 27th. They set a “buy” rating and a $40.00 price objective for the company. Deutsche Bank AG lowered their price objective on Cooper Tire & Rubber Co. from $40.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Cooper Tire & Rubber Co. from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $39.30.

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Shares of Cooper Tire & Rubber Co. (NYSE:CTB) traded up 1.38% during midday trading on Thursday, reaching $36.61. The company had a trading volume of 139,365 shares. The company has a market capitalization of $1.98 billion, a P/E ratio of 8.53 and a beta of 0.61. Cooper Tire & Rubber Co. has a one year low of $29.29 and a one year high of $43.40. The company has a 50-day moving average price of $34.24 and a 200 day moving average price of $33.60.
Cooper Tire & Rubber Co. (NYSE:CTB) last released its earnings results on Thursday, August 4th. The company reported $1.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.20. The company earned $740 million during the quarter, compared to analysts’ expectations of $751.81 million. Cooper Tire & Rubber Co. had a return on equity of 23.50% and a net margin of 8.22%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities analysts anticipate that Cooper Tire & Rubber Co. will post $4.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, August 31st. Cooper Tire & Rubber Co.’s payout ratio is 9.79%.
Several hedge funds have recently bought and sold shares of CTB. BlackRock Inc. raised its stake in shares of Cooper Tire & Rubber Co. by 34.4% in the first quarter. BlackRock Inc. now owns 4,891 shares of the company’s stock valued at $180,000 after buying an additional 1,252 shares during the last quarter. Algert Global LLC raised its stake in shares of Cooper Tire & Rubber Co. by 34.7% in the first quarter. Algert Global LLC now owns 72,225 shares of the company’s stock valued at $2,674,000 after buying an additional 18,605 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Cooper Tire & Rubber Co. by 13.9% in the first quarter. Rehmann Capital Advisory Group now owns 6,067 shares of the company’s stock valued at $225,000 after buying an additional 739 shares during the last quarter. Apertura Capital LLC purchased a new stake in shares of Cooper Tire & Rubber Co. during the first quarter valued at approximately $5,553,000. Finally, Pacad Investment Ltd. raised its stake in shares of Cooper Tire & Rubber Co. by 66.2% in the first quarter. Pacad Investment Ltd. now owns 17,580 shares of the company’s stock valued at $651,000 after buying an additional 7,000 shares during the last quarter. 91.25% of the stock is owned by institutional investors and hedge funds.
About Cooper Tire & Rubber Co.
Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries sell medium truck, motorcycle and racing tires. It has four business segments: North America, composed of its operations in the United States and Canada; Latin America, composed of its operations in Mexico, Central America and South America; Europe, and Asia.

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