KeyCorp Increases Cooper Tire & Rubber (NYSE:CTB) Price Target to $32.00

Cooper Tire & Rubber (NYSE:CTB) had its target price raised by KeyCorp from $30.00 to $32.00 in a report released on Monday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock. KeyCorp also issued estimates for Cooper Tire & Rubber’s Q2 2020 earnings at ($0.66) EPS, FY2020 earnings at $0.27 EPS and FY2021 earnings at $1.85 EPS.

A number of other research analysts also recently issued reports on CTB. Zacks Investment Research downgraded shares of Cooper Tire & Rubber from a hold rating to a strong sell rating and set a $26.00 price target on the stock. in a research report on Tuesday, June 2nd. Cfra cut their target price on shares of Cooper Tire & Rubber from $30.00 to $20.00 and set a hold rating on the stock in a report on Thursday, May 7th. TheStreet lowered Cooper Tire & Rubber from a b- rating to a c+ rating in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. increased their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Cooper Tire & Rubber has a consensus rating of Hold and a consensus price target of $29.60.

Shares of CTB opened at $27.33 on Monday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 15.62 and a beta of 1.31. The stock has a 50 day moving average of $25.50 and a 200-day moving average of $24.54. The company has a current ratio of 2.05, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. Cooper Tire & Rubber has a 52 week low of $13.82 and a 52 week high of $31.72.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.08). The firm had revenue of $532.00 million for the quarter, compared to analyst estimates of $544.67 million. Cooper Tire & Rubber had a net margin of 2.92% and a return on equity of 6.85%. The business’s revenue was down 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. On average, sell-side analysts predict that Cooper Tire & Rubber will post 0.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 1st were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, May 29th. Cooper Tire & Rubber’s payout ratio is 21.99%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cooper Tire & Rubber during the fourth quarter valued at $18,474,000. Sandbar Asset Management LLP bought a new position in Cooper Tire & Rubber in the 1st quarter valued at about $6,432,000. Wellington Management Group LLP increased its stake in Cooper Tire & Rubber by 22.2% during the 1st quarter. Wellington Management Group LLP now owns 1,818,238 shares of the company’s stock valued at $29,637,000 after buying an additional 330,605 shares during the period. Point72 Asset Management L.P. raised its position in shares of Cooper Tire & Rubber by 126.6% during the 4th quarter. Point72 Asset Management L.P. now owns 564,357 shares of the company’s stock worth $16,225,000 after buying an additional 315,335 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of Cooper Tire & Rubber by 11.2% during the 1st quarter. Deprince Race & Zollo Inc. now owns 2,099,447 shares of the company’s stock worth $34,221,000 after buying an additional 212,064 shares in the last quarter. Institutional investors and hedge funds own 97.05% of the company’s stock.

Cooper Tire & Rubber Company Profile

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.

Further Reading: What sectors are represented in the FTSE 100 index?

Analyst Recommendations for Cooper Tire & Rubber (NYSE:CTB)

Receive News & Ratings for Cooper Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.