Cooper Tire & Rubber’s (CTB) “Buy” Rating Reaffirmed at FBR & Co

FBR & Co reissued their buy rating on shares of Cooper Tire & Rubber Company (NYSE:CTB) in a research note published on Tuesday morning. FBR & Co currently has a $50.00 target price on the stock.

CTB has been the subject of a number of other research reports. Jefferies Group LLC reiterated a hold rating and issued a $40.00 price objective on shares of Cooper Tire & Rubber in a report on Sunday, September 10th. Zacks Investment Research downgraded shares of Cooper Tire & Rubber from a hold rating to a sell rating in a report on Tuesday, October 10th. BidaskClub downgraded shares of Cooper Tire & Rubber from a hold rating to a sell rating in a report on Saturday, August 5th. Finally, Deutsche Bank AG increased their price objective on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a hold rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $40.67.

Shares of Cooper Tire & Rubber (NYSE:CTB) traded up 0.686% on Tuesday, hitting $33.025. The stock had a trading volume of 483,882 shares. Cooper Tire & Rubber has a 12 month low of $31.55 and a 12 month high of $44.50. The firm’s 50-day moving average price is $36.18 and its 200 day moving average price is $36.53. The firm has a market cap of $1.72 billion and a P/E ratio of 9.136.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings data on Monday, October 30th. The company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.33. The company had revenue of $733.80 million during the quarter, compared to the consensus estimate of $779.02 million. Cooper Tire & Rubber had a net margin of 7.18% and a return on equity of 17.84%. Cooper Tire & Rubber’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. Analysts anticipate that Cooper Tire & Rubber will post $3.37 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a $0.105 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.28%. Cooper Tire & Rubber’s payout ratio is 10.82%.

Several institutional investors have recently bought and sold shares of CTB. BlackRock Inc. grew its stake in shares of Cooper Tire & Rubber by 36,940.2% in the 1st quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock valued at $255,971,000 after buying an additional 5,756,018 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of Cooper Tire & Rubber in the 2nd quarter valued at approximately $25,270,000. State Street Corp grew its stake in shares of Cooper Tire & Rubber by 57.0% in the 1st quarter. State Street Corp now owns 1,758,619 shares of the company’s stock valued at $77,994,000 after buying an additional 638,424 shares during the period. Fairpointe Capital LLC grew 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 valued at $121,914,000 after buying an additional 436,279 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of Cooper Tire & Rubber in the 2nd quarter valued at approximately $13,749,000.

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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