Cooper Tire & Rubber Co (CTB) is Initiated by Standpoint Research to Buy, Price Target at $40

Cooper Tire & Rubber Co (CTB) was Initiated by Standpoint Research to “Buy” and the brokerage firm has set the Price Target at $40. Standpoint Research advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Cooper Tire & Rubber Co. Cooper Tire & Rubber Co was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Apr 7, 2016.

On the company’s financial health, Cooper Tire & Rubber Co reported $1.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.97. The company had revenue of $649.80 million for the quarter, compared to analysts expectations of $673.12 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.

Cooper Tire & Rubber Co opened for trading at $31.49 and hit $31.64 on the upside on Wednesday, eventually ending the session at $31.42, with a gain of 0.22% or 0.07 points. The heightened volatility saw the trading volume jump to 5,99,102 shares. Company has a market cap of $1,733 M.

Investors should note that on May 6, 2016, Cooper Tire & Rubber Co announced a cash dividend of $0.1050. The company’s management has announced May 31, 2016 as the ex-dividend date and fixed the record date on Jun 2, 2016. The payable date has been fixed on Jun 30, 2016.

In a different news, on Mar 7, 2016, Roy V Armes (COB, President & CEO) sold 50,000 shares at $39.39 per share price. According to the SEC, on Feb 25, 2016, Stephen Zamansky (Senior VP, Gen Counsel & Secy) sold 13,397 shares at $39.04 per share price. On Aug 27, 2015, Bradley E. Hughes (Senior VP and COO) sold 80,600 shares at $36.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design manufacture marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries also sell medium truck motorcycle and racing tires. The Company operates in two segments: Americas Tire Operations and International Tire Operations. The Americas Tire Operations segment manufactures and markets passenger car and light truck tires primarily for sale in the United States replacement market. It supplies passenger car tires. The segment also distributes tires for racing medium truck and motorcycles. The racing and motorcycle tires are manufactured in the Company’s International Tire Operations segment and by others. The distribution channels and customers include independent tire dealers wholesale distributors regional and national retail tire chains and retail chains that sell tires as well as other automotive products.

Cooper Tire & Rubber Co

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