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

Cooper Tire & Rubber (NYSE:CTB) had its target price upped by equities researchers at KeyCorp from $30.00 to $32.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 16.07% from the stock’s previous close. KeyCorp also issued estimates for Cooper Tire & Rubber’s FY2021 earnings at $1.85 EPS.

Several other equities analysts also recently weighed in on the company. TheStreet downgraded Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a research report on Thursday, March 5th. Cfra cut their price target on Cooper Tire & Rubber from $30.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Zacks Investment Research cut Cooper Tire & Rubber from a “hold” rating to a “strong sell” rating and set a $26.00 price target for the company. in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. increased their price target on Cooper Tire & Rubber from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, June 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Cooper Tire & Rubber has a consensus rating of “Hold” and a consensus target price of $29.60.

NYSE CTB opened at $27.57 on Monday. The company has a market cap of $1.30 billion, a PE ratio of 17.79 and a beta of 1.31. The stock’s 50 day simple moving average is $25.29 and its 200-day simple moving average is $24.56. Cooper Tire & Rubber has a 1-year low of $13.82 and a 1-year high of $32.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 1.36.

Cooper Tire & Rubber (NYSE:CTB) last released its earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08). The firm had revenue of $532.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. On average, equities research analysts anticipate that Cooper Tire & Rubber will post 0.76 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in Cooper Tire & Rubber by 6.4% during the first quarter. State Street Corp now owns 1,728,144 shares of the company’s stock worth $28,169,000 after acquiring an additional 103,653 shares during the last quarter. Royal Bank of Canada increased its stake in Cooper Tire & Rubber by 69.2% during the first quarter. Royal Bank of Canada now owns 32,433 shares of the company’s stock worth $529,000 after acquiring an additional 13,270 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Cooper Tire & Rubber by 19.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 6,920 shares of the company’s stock worth $113,000 after acquiring an additional 1,111 shares during the last quarter. Morgan Stanley increased its stake in Cooper Tire & Rubber by 7.0% during the first quarter. Morgan Stanley now owns 276,562 shares of the company’s stock worth $4,508,000 after acquiring an additional 18,132 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in Cooper Tire & Rubber during the first quarter worth $52,000. 97.05% of the stock is owned by institutional investors.

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.

Read More: Producer Price Index (PPI)

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.