Cooper Tire & Rubber Co (NYSE:CTB) had its price objective hoisted by FBR & Co from $48.00 to $53.00 in a research note released on Thursday morning. FBR & Co currently has an outperform rating on the stock.
Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Cooper Tire & Rubber Co from a neutral rating to an overweight rating and lifted their price target for the company from $47.00 to $51.00 in a research note on Tuesday, March 14th. Zacks Investment Research lowered shares of Cooper Tire & Rubber Co from a hold rating to a sell rating in a research note on Tuesday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $40.00.
Cooper Tire & Rubber Co (NYSE:CTB) traded up 1.04% during mid-day trading on Thursday, hitting $43.65. The stock had a trading volume of 592,791 shares. The company has a 50-day moving average of $42.80 and a 200-day moving average of $38.89. The stock has a market cap of $2.30 billion and a price-to-earnings ratio of 9.68. Cooper Tire & Rubber Co has a 12-month low of $29.29 and a 12-month high of $44.50.
Cooper Tire & Rubber Co (NYSE:CTB) last issued its quarterly earnings results on Friday, February 17th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.34. Cooper Tire & Rubber Co had a net margin of 8.17% and a return on equity of 23.13%. The firm had revenue of $783.89 million for the quarter, compared to analyst estimates of $767.36 million. During the same period in the previous year, the business earned $1.04 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Cooper Tire & Rubber Co will post $3.78 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Thursday, March 2nd were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Tuesday, February 28th. Cooper Tire & Rubber Co’s payout ratio is 9.86%.
In related news, VP Stephen Zamansky sold 14,041 shares of Cooper Tire & Rubber Co stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $40.37, for a total transaction of $566,835.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in CTB. Royce & Associates LP increased its stake in shares of Cooper Tire & Rubber Co by 156.4% in the fourth quarter. Royce & Associates LP now owns 1,860,142 shares of the company’s stock valued at $72,267,000 after buying an additional 1,134,598 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Cooper Tire & Rubber Co during the third quarter valued at approximately $40,594,000. Norges Bank bought a new stake in shares of Cooper Tire & Rubber Co during the fourth quarter valued at approximately $29,062,000. Dimensional Fund Advisors LP increased its stake in shares of Cooper Tire & Rubber Co by 17.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,598,352 shares of the company’s stock valued at $100,946,000 after buying an additional 382,459 shares during the last quarter. Finally, Emerald Acquisition Ltd. increased its stake in shares of Cooper Tire & Rubber Co by 90.3% in the third quarter. Emerald Acquisition Ltd. now owns 719,513 shares of the company’s stock valued at $27,356,000 after buying an additional 341,408 shares during the last quarter. 90.09% of the stock is owned by institutional investors and hedge funds.
About Cooper Tire & Rubber Co
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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