Cooper Tire & Rubber Company (CTB) Receives “Buy” Rating from KeyCorp

KeyCorp reaffirmed their buy rating on shares of Cooper Tire & Rubber Company (NYSE:CTB) in a research report report published on Wednesday morning. They currently have a $42.00 price target on the stock. KeyCorp also issued estimates for Cooper Tire & Rubber’s Q4 2017 earnings at $0.63 EPS and FY2018 earnings at $3.80 EPS.

Several other equities research analysts have also recently commented on CTB. Zacks Investment Research cut Cooper Tire & Rubber from a buy rating to a hold rating in a research note on Friday, July 28th. Jefferies Group LLC set a $40.00 target price on Cooper Tire & Rubber and gave the stock a hold rating in a research note on Monday, August 7th. BidaskClub raised Cooper Tire & Rubber from a sell rating to a hold rating in a research note on Wednesday, July 19th. Deutsche Bank AG raised their target price on Cooper Tire & Rubber from $40.00 to $45.00 and gave the stock a hold rating in a research note on Monday, August 7th. Finally, FBR & Co reaffirmed a buy rating and set a $50.00 target price on shares of Cooper Tire & Rubber in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $40.86.

Cooper Tire & Rubber (NYSE:CTB) last issued its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.33. The company had revenue of $733.80 million during the quarter, compared to analysts’ expectations of $779.02 million. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid 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 dividend payout ratio (DPR) is presently 10.82%.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Cooper Tire & Rubber by 36,940.2% in the first quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock valued at $255,971,000 after acquiring an additional 5,756,018 shares during the period. Vanguard Group Inc. grew its stake in Cooper Tire & Rubber by 0.5% in the second quarter. Vanguard Group Inc. now owns 4,350,677 shares of the company’s stock valued at $157,060,000 after acquiring an additional 20,738 shares during the period. Dimensional Fund Advisors LP grew its stake in Cooper Tire & Rubber by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,430,014 shares of the company’s stock valued at $123,824,000 after acquiring an additional 350,313 shares during the period. Fairpointe Capital LLC grew its stake in Cooper Tire & Rubber by 14.8% in the second quarter. Fairpointe Capital LLC now owns 3,377,104 shares of the company’s stock valued at $121,914,000 after acquiring an additional 436,279 shares during the period. Finally, Royce & Associates LP grew its stake in Cooper Tire & Rubber by 14.3% in the second quarter. Royce & Associates LP now owns 2,955,339 shares of the company’s stock valued at $106,688,000 after acquiring an additional 369,045 shares during the period.

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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