Investors Buy Shares of Cooper Tire & Rubber (CTB) on Weakness

Traders bought shares of Cooper Tire & Rubber Co (NYSE:CTB) on weakness during trading hours on Thursday. $24.17 million flowed into the stock on the tick-up and $2.86 million flowed out of the stock on the tick-down, for a money net flow of $21.31 million into the stock. Of all equities tracked, Cooper Tire & Rubber had the 20th highest net in-flow for the day. Cooper Tire & Rubber traded down ($0.10) for the day and closed at $39.70

A number of brokerages have recently weighed in on CTB. Zacks Investment Research lowered Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. KeyCorp restated a “buy” rating and set a $42.00 price target on shares of Cooper Tire & Rubber in a research note on Wednesday, November 1st. B. Riley restated a “buy” rating and set a $50.00 price target on shares of Cooper Tire & Rubber in a research note on Monday, December 11th. ValuEngine upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Finally, Jefferies Group restated a “hold” rating and set a $35.00 price target on shares of Cooper Tire & Rubber in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.29.

The company has a market capitalization of $2,035.57, a PE ratio of 10.23 and a beta of 0.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.67.

Cooper Tire & Rubber (NYSE:CTB) last issued its earnings results 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 firm had revenue of $733.80 million for the quarter, compared to analyst estimates of $779.02 million. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. Cooper Tire & Rubber’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share. equities analysts forecast that Cooper Tire & Rubber Co will post 3.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a $0.105 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.05%. Cooper Tire & Rubber’s dividend payout ratio is currently 10.82%.

A number of hedge funds and other institutional investors have recently modified their holdings of CTB. Riverhead Capital Management LLC boosted its position in Cooper Tire & Rubber by 75.2% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock valued at $145,000 after buying an additional 1,729 shares during the last quarter. Flinton Capital Management LLC boosted its position in Cooper Tire & Rubber by 76.7% in the second quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock valued at $161,000 after buying an additional 1,932 shares during the last quarter. Advisory Services Network LLC boosted its position in Cooper Tire & Rubber by 6.8% in the second quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock valued at $172,000 after buying an additional 304 shares during the last quarter. Worth Venture Partners LLC purchased a new stake in Cooper Tire & Rubber in the second quarter valued at approximately $235,000. Finally, M&T Bank Corp purchased a new stake in Cooper Tire & Rubber in the second quarter valued at approximately $243,000.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.com-unik.info/2018/01/13/investors-buy-shares-of-cooper-tire-rubber-ctb-on-weakness.html.

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.

Receive News & Ratings for Cooper Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit