Cooper Tire & Rubber Co (NYSE:CTB) has earned an average recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $37.00.
A number of analysts recently commented on CTB shares. Wolfe Research started coverage on Cooper Tire & Rubber in a report on Tuesday, October 2nd. They set an “underperform” rating on the stock. ValuEngine lowered Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Northcoast Research set a $38.00 price target on Cooper Tire & Rubber and gave the stock a “buy” rating in a report on Tuesday, November 20th. Finally, TheStreet upgraded Cooper Tire & Rubber from a “c+” rating to a “b-” rating in a report on Wednesday, November 21st.
A number of large investors have recently added to or reduced their stakes in CTB. UBS Group AG increased its position in Cooper Tire & Rubber by 38.7% in the first quarter. UBS Group AG now owns 11,827 shares of the company’s stock worth $347,000 after buying an additional 3,300 shares during the last quarter. Principal Financial Group Inc. grew its position in Cooper Tire & Rubber by 1.9% during the first quarter. Principal Financial Group Inc. now owns 215,042 shares of the company’s stock worth $6,301,000 after buying an additional 3,930 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Cooper Tire & Rubber by 25.1% during the second quarter. Janney Montgomery Scott LLC now owns 23,920 shares of the company’s stock worth $629,000 after buying an additional 4,794 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Cooper Tire & Rubber during the second quarter worth about $311,000. Finally, Crossmark Global Holdings Inc. grew its position in Cooper Tire & Rubber by 37.0% during the second quarter. Crossmark Global Holdings Inc. now owns 12,859 shares of the company’s stock worth $338,000 after buying an additional 3,470 shares in the last quarter.
Cooper Tire & Rubber (NYSE:CTB) last posted its earnings results on Monday, October 29th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.62. Cooper Tire & Rubber had a return on equity of 8.58% and a net margin of 1.25%. The company had revenue of $737.70 million for the quarter, compared to analyst estimates of $748.54 million. During the same quarter last year, the company earned $1.18 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts anticipate that Cooper Tire & Rubber will post 2.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Friday, November 30th. Cooper Tire & Rubber’s dividend payout ratio is currently 13.55%.
About Cooper Tire & Rubber
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.
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