Cooper Tire & Rubber (NYSE:CTB) Stock Price Up 5.7%

Cooper Tire & Rubber Co (NYSE:CTB)’s stock price rose 5.7% during mid-day trading on Wednesday . The company traded as high as $26.72 and last traded at $26.71, approximately 617,695 shares were traded during trading. An increase of 54% from the average daily volume of 401,658 shares. The stock had previously closed at $25.27.

CTB has been the subject of a number of research reports. KeyCorp decreased their target price on Cooper Tire & Rubber from $34.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. ValuEngine cut Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, July 23rd. B. Riley set a $40.00 price target on Cooper Tire & Rubber and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Longbow Research restated a “hold” rating on shares of Cooper Tire & Rubber in a report on Sunday, July 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.75.

The stock has a market cap of $1.27 billion, a PE ratio of 12.14 and a beta of 0.68. The stock has a fifty day simple moving average of $24.91 and a two-hundred day simple moving average of $29.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.83.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, July 29th. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.33). The company had revenue of $679.10 million during the quarter, compared to analysts’ expectations of $718.74 million. Cooper Tire & Rubber had a return on equity of 8.61% and a net margin of 2.46%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 EPS. On average, equities analysts predict that Cooper Tire & Rubber Co will post 1.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, August 30th. Cooper Tire & Rubber’s dividend payout ratio is presently 19.27%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. C M Bidwell & Associates Ltd. purchased a new position in Cooper Tire & Rubber in the 2nd quarter worth approximately $30,000. Quantamental Technologies LLC acquired a new position in shares of Cooper Tire & Rubber in the 1st quarter valued at approximately $42,000. SG Americas Securities LLC acquired a new position in shares of Cooper Tire & Rubber in the 2nd quarter valued at approximately $104,000. NumerixS Investment Technologies Inc acquired a new position in shares of Cooper Tire & Rubber in the 1st quarter valued at approximately $102,000. Finally, Cambria Investment Management L.P. acquired a new position in shares of Cooper Tire & Rubber in the 1st quarter valued at approximately $132,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

About Cooper Tire & Rubber (NYSE:CTB)

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.

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