Cooper Tire & Rubber (CTB) Trading Down 5.2%

Cooper Tire & Rubber Co (NYSE:CTB) shares dropped 5.2% during trading on Monday . The company traded as low as $37.00 and last traded at $37.00. Approximately 914,986 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 810,966 shares. The stock had previously closed at $39.05.

CTB has been the subject of a number of research reports. Zacks Investment Research cut Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. ValuEngine upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. B. Riley restated a “buy” rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Monday, December 11th. KeyCorp restated a “buy” rating and issued a $42.00 price objective on shares of Cooper Tire & Rubber in a report on Wednesday, November 1st. Finally, Longbow Research began coverage on Cooper Tire & Rubber in a report on Wednesday, January 31st. They issued a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $45.88.

The firm has a market capitalization of $2,002.24, a price-to-earnings ratio of 9.78 and a beta of 0.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.67.

Institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in Cooper Tire & Rubber by 20.1% during the 3rd quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock worth $2,111,000 after acquiring an additional 9,465 shares during the period. American Century Companies Inc. grew its holdings in Cooper Tire & Rubber by 29.5% during the 3rd quarter. American Century Companies Inc. now owns 317,017 shares of the company’s stock worth $11,856,000 after acquiring an additional 72,195 shares during the period. Vanguard Group Inc. grew its holdings in Cooper Tire & Rubber by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,350,677 shares of the company’s stock worth $157,060,000 after acquiring an additional 20,738 shares during the period. Russell Investments Group Ltd. grew its holdings in Cooper Tire & Rubber by 1,109.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 522,894 shares of the company’s stock worth $19,556,000 after acquiring an additional 479,671 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Cooper Tire & Rubber by 2.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 282,044 shares of the company’s stock worth $10,549,000 after acquiring an additional 6,367 shares during the period.

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About Cooper Tire & Rubber

Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.

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