ValuEngine downgraded shares of Cooper Tire & Rubber (NYSE:CTB) from a sell rating to a strong sell rating in a research report report published on Wednesday.
CTB has been the topic of several other reports. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a sell rating to a hold rating in a research note on Friday, March 2nd. Longbow Research initiated coverage on shares of Cooper Tire & Rubber in a research note on Wednesday, January 31st. They issued a buy rating and a $50.00 price target on the stock. JPMorgan Chase dropped their price target on shares of Cooper Tire & Rubber from $43.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. TheStreet lowered shares of Cooper Tire & Rubber from a b rating to a c rating in a research note on Tuesday, February 20th. Finally, B. Riley dropped their price target on shares of Cooper Tire & Rubber from $50.00 to $40.00 and set a buy rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $41.50.
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NYSE:CTB remained flat at $$24.30 during mid-day trading on Wednesday. 707,037 shares of the company traded hands, compared to its average volume of 978,192. The firm has a market capitalization of $1,228.45, a PE ratio of 7.84, a price-to-earnings-growth ratio of 2.77 and a beta of 0.46. Cooper Tire & Rubber has a 52-week low of $22.58 and a 52-week high of $40.78. The company has a current ratio of 2.59, a quick ratio of 1.73 and a debt-to-equity ratio of 0.25.
Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings results on Monday, April 30th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.41). The company had revenue of $601.50 million during the quarter, compared to analysts’ expectations of $641.21 million. Cooper Tire & Rubber had a net margin of 2.60% and a return on equity of 11.73%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. research analysts predict that Cooper Tire & Rubber will post 2.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.73%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 13.55%.
In other Cooper Tire & Rubber news, Director Robert D. Welding bought 1,500 shares of the stock in a transaction dated Friday, March 9th. The shares were acquired at an average cost of $32.30 per share, for a total transaction of $48,450.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $96,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.74% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Elkfork Partners LLC acquired a new stake in Cooper Tire & Rubber in the fourth quarter valued at $168,000. Unison Advisors LLC acquired a new stake in Cooper Tire & Rubber in the fourth quarter valued at $224,000. Taylor Hoffman Wealth Management acquired a new stake in Cooper Tire & Rubber in the fourth quarter valued at $281,000. Crossmark Global Holdings Inc. lifted its holdings in Cooper Tire & Rubber by 20.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,628 shares of the company’s stock valued at $340,000 after acquiring an additional 1,629 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new stake in Cooper Tire & Rubber in the fourth quarter valued at $420,000.
Cooper Tire & Rubber Company Profile
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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