Cooper Tire & Rubber Co (CTB) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.22. Analysts had a consensus of $1.05. The company posted revenue of $740.00 million in the period, compared to analysts expectations of $743.19 million. The company’s revenue was down -1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Many Wall Street Analysts have commented on Cooper Tire & Rubber Co. Northcoast Upgraded Cooper Tire & Rubber Co on Jul 26, 2016 to ” Buy”, Price Target of the shares are set at $37.Standpoint Research Initiated Cooper Tire & Rubber Co on May 27, 2016 to “Buy”, Price Target of the shares are set at $40.
Cooper Tire & Rubber Co closed down -0.75 points or -2.29% at $32.06 with 7,21,351 shares getting traded on Tusday. Post opening the session at $32.69, the shares hit an intraday low of $32.03 and an intraday high of $32.69 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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 Companys 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.