ChoicePoint (CPS) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of ChoicePoint (NYSE:CPS) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Cooper Standard is well placed in terms of generation of new business and is in line with its cost-saving initiatives and lowering SGA&E expenses. Off late, the company is continuing with its key strategic initiatives and investing in profitable growth. Product technology and innovation are aiding the company to gain new customers and in expansion opportunities along with the existing ones. Over the past three months, shares of Cooper Standard have underperformed the industry it belongs to. The company expects to see commodity cost inflation on certain raw material, given the volatility in steel and aluminum prices. Also, it expects the pricing pressure from customers to continue, which will hamper its financials. Moreover, trade and tariff disputes and rising interest rates are other headwinds for the company.”
Other equities research analysts have also issued reports about the company. Roth Capital set a $130.00 price objective on ChoicePoint and gave the stock a buy rating in a research note on Thursday, November 1st. Buckingham Research cut their target price on ChoicePoint from $165.00 to $140.00 and set a buy rating on the stock in a report on Wednesday, October 3rd. ValuEngine lowered ChoicePoint from a hold rating to a sell rating in a research note on Wednesday, December 26th. Finally, Bank of America reissued an underperform rating and set a $77.00 target price (down from $90.00) on shares of ChoicePoint in a research report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $104.25.
ChoicePoint (NYSE:CPS) last released its earnings results on Friday, November 2nd. The auto parts company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($1.16). The firm had revenue of $861.70 million for the quarter, compared to the consensus estimate of $851.09 million. ChoicePoint had a return on equity of 22.00% and a net margin of 4.31%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 EPS. Equities analysts predict that ChoicePoint will post 9.38 earnings per share for the current year.
In related news, Director Matthew Simoncini acquired 5,500 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average price of $72.48 per share, for a total transaction of $398,640.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey S. Edwards acquired 13,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was bought at an average price of $74.12 per share, with a total value of $978,384.00. Following the transaction, the chairman now directly owns 100,676 shares in the company, valued at $7,462,105.12. The disclosure for this purchase can be found here. 3.00% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CPS. Canada Pension Plan Investment Board bought a new position in ChoicePoint in the 3rd quarter worth approximately $3,803,000. Bank of New York Mellon Corp raised its position in ChoicePoint by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 232,898 shares of the auto parts company’s stock worth $30,433,000 after purchasing an additional 6,054 shares during the last quarter. SG Americas Securities LLC raised its position in shares of ChoicePoint by 337.0% during the 2nd quarter. SG Americas Securities LLC now owns 5,965 shares of the auto parts company’s stock valued at $779,000 after acquiring an additional 4,600 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of ChoicePoint by 44.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 11,879 shares of the auto parts company’s stock valued at $1,425,000 after acquiring an additional 3,653 shares during the last quarter. Finally, Commonwealth Bank of Australia bought a new stake in shares of ChoicePoint during the 3rd quarter valued at $251,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
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