Cooper Tire & Rubber Co (NYSE:CTB) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $34.60.
Several research analysts have recently weighed in on CTB shares. KeyCorp lifted their price objective on Cooper Tire & Rubber from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Cooper Tire & Rubber from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, June 19th.
Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in shares of Cooper Tire & Rubber in the second quarter valued at $31,000. Cerebellum GP LLC bought a new position in shares of Cooper Tire & Rubber in the second quarter valued at $72,000. Advisor Group Holdings Inc. bought a new position in shares of Cooper Tire & Rubber in the first quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cooper Tire & Rubber by 42.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,881 shares of the company’s stock valued at $80,000 after buying an additional 1,452 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Cooper Tire & Rubber by 19.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 6,920 shares of the company’s stock valued at $113,000 after buying an additional 1,111 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.
Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.42. The company had revenue of $496.30 million for the quarter, compared to analyst estimates of $464.87 million. Cooper Tire & Rubber had a net margin of 2.53% and a return on equity of 5.73%. The company’s quarterly revenue was down 26.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities research analysts forecast that Cooper Tire & Rubber will post 1.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.42 annualized dividend and a dividend yield of 1.25%. Cooper Tire & Rubber’s dividend payout ratio is 21.99%.
About Cooper Tire & Rubber
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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