Cooper Tire & Rubber Company (CTB) Stock Rating Lowered by Zacks Investment Research

Cooper Tire & Rubber Company (NYSE:CTB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Cooper Tire is facing operating margin pressure, due to volatile raw material costs and lack of sufficient increase in product pricing. Moreover, due to competitive pricing, promotions and lower volumes in the industry the company is witnessing a decline in product demand. Other headwinds faced by the company include an uncertain global market, uneven trade policies and currency fluctuations. Also, year to date, Cooper Tire’s shares have also underperformed the industry it belongs to.”

Other research analysts also recently issued reports about the company. Standpoint Research upgraded Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research note on Tuesday, June 20th. FBR & Co restated a “buy” rating and issued a $53.00 price target on shares of Cooper Tire & Rubber in a research note on Tuesday, September 5th. Jefferies Group LLC restated a “hold” rating and issued a $40.00 price target on shares of Cooper Tire & Rubber in a research note on Sunday, September 10th. BidaskClub upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG raised their price target on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Cooper Tire & Rubber has a consensus rating of “Hold” and an average price target of $42.00.

Shares of Cooper Tire & Rubber (NYSE CTB) traded up 0.41% during midday trading on Tuesday, reaching $36.30. The company’s stock had a trading volume of 178,127 shares. Cooper Tire & Rubber has a 12 month low of $32.78 and a 12 month high of $44.50. The company has a 50-day moving average price of $35.03 and a 200-day moving average price of $37.32. The firm has a market cap of $1.89 billion and a price-to-earnings ratio of 10.04.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. The firm had revenue of $720.75 million during the quarter, compared to the consensus estimate of $775.00 million. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. Equities analysts expect that Cooper Tire & Rubber will post $3.40 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of Cooper Tire & Rubber during the 1st quarter worth approximately $110,000. Riverhead Capital Management LLC boosted its stake in shares of Cooper Tire & Rubber by 75.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock worth $145,000 after acquiring an additional 1,729 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Cooper Tire & Rubber by 17.0% during the 2nd quarter. LS Investment Advisors LLC now owns 4,311 shares of the company’s stock worth $156,000 after acquiring an additional 627 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Cooper Tire & Rubber by 76.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock worth $161,000 after acquiring an additional 1,932 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Cooper Tire & Rubber during the 1st quarter worth approximately $204,000.

About Cooper Tire & Rubber

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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