KeyBanc maintained its Cooper Tire & Rubber [CTB] rating to the equivalent of Overweight but changed the price target to $50 from $48, in a research note dated 2021-01-08. That figure represents around a 21.02% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with KeyBanc Capital Markets’s analysts assigning the shares to “an Overweight” rating in a research note to investors issued in late May. Meanwhile, Wolfe Research had launched its coverage on CTB with “an Underperform”, in a research note produced for clients October 02, 2018. In addition, there was a downgrade from Longbow on March 13, 2018. The rater changed CTB from “a Buy” to “a Neutral”.
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Is Cooper Tire & Rubber Company [NYSE:CTB] a Good Buy Right Now?
It should be noted that CTB technical indicators for short, intermediate as well as long term progress have placed an overall average of 96% as Buy. The average signal changed from 56% Buy in the last week and compares with 88% Buy in the past month. Data from Cooper Tire & Rubber Company’s Trend Spotter indicated that the signals were Falling. The stock current average is 0.37 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.39 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.36 million shares.
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CTB Price Performance
On Wall Street, Cooper Tire & Rubber Company [NYSE:CTB] finished Thursday’s session up 1.30% at $41.35. The stock went up to $41.945 at the same session while its lowest single day price was $40.945. In the last five days, it saw a rise of about 8.27%, Cooper Tire & Rubber Company shares gained by almost 2.10% since the beginning of the year. However, the share price has dropped to as low as -2.28% below its one year high. On 01/07/21, the company shares recorded $41.94, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $38.58. The company’s shares have inclined by 46.74% in the past year. The 50-day SMA achieved is $39.15 while the 200-day SMA is $31.13. Volume dropped to 0.28 million from 0.66 million in the previous session.
Cooper Tire & Rubber Company [CTB] Valuation Measures
Notably, Cooper Tire & Rubber Company [CTB] stock can be classified as a good candidate in the listing of underestimated low-priced Auto Parts companies to purchase soonest possible with the prevailing 12-month PE ratio of 13.35. The measure means the stock is exchanging at a discount as compared to the 24.53x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.77 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 0.78 which means CTB serve an attractive investment opportunity compared to its competitors.
CTB Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 40.88 level, and in case of violation of this particular level, it will cause more drop to 40.41 level. On the upper level, 42.41 is still the key resistance. The stock may increase to the subsequent resistance at 41.88. The Relative Strength Index (RSI) pinned on the 14-day chart is 59.26, implying a neutral technical stance while the MACD stands at 1.89, meaning price will increase in the next trading period. Percent R indicator moved to 11.70%, implying bullish price movement. Stochastic %K at 84.00% suggest selling the stock.
What is the short interest in Cooper Tire & Rubber Company?
Short interest in the Cooper Tire & Rubber Company stock has surged, increasing by 0.26 million shares to total 2.24 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.5 million, data from Yahoo Finance shows. The decrease of -11.61% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.03% of the overall float for the stock.
Cooper Tire & Rubber Company’s Biggest Shareholders: Who Owns Cooper Tire & Rubber Company [CTB]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,896,616 shares or roughly 13.69% of the outstanding CTB shares. This means their shares have reduced by -173,780 from the 6,896,616 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $194,371,000. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP disposed off their -3.80% stake valued at $161,435,982 while Wellington Management Co. LLP added theirs at $101,919,170. During the last quarter, Dimensional Fund Advisors LP liquidated -160,434 of its shares in Cooper Tire & Rubber Company while Wellington Management Co. LLP bought 550,114 shares. The AllianceBernstein LP’s holdings currently number 2,139,965 shares at $88487552.75. According to the firm’s last 13F report, LSV Asset Management shares in the company at filing stood at 1,998,545 shares, roughly $79,402,193.
CTB Earnings Forecast For The Current Quarter
Cooper Tire & Rubber Company [CTB] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $731.9M and an earnings per share of $0.92 for Dec 2020. Looking further ahead, the company is expected to report revenue of $624.52M at an EPS of $0.45 for Mar 2021. The estimates represent downside of 11.10% and 24.68% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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CTB Earnings Estimates For The Current Year
For the financial year, Cooper Tire & Rubber Company [NYSE:CTB] is expected to bring in revenue of $2.52B. The returns are nearly $-230.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.99, higher than that of FY19 by $1.08. Estimates put this year’s earnings growth at 56.50%, 25.10% for the next, and at an annual -0.71% over the next 5-year period. As for sales, forecasts are for a decrease of -8.30% in the current fiscal year and a further 11.10% over the following year.
