Cooper Tire & Rubber Company [NYSE: CTB] jumped around 12.87 points on Monday, while shares priced at $56.64 at the close of the session, up 29.40%. The company report on February 23, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Cooper Tire & Rubber Company (NYSE:CTB).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Cooper Tire & Rubber Company (“Cooper Tire” or the “Company”) (NYSE:CTB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by The Goodyear Tire & Rubber Company (“Goodyear) (NASDAQ:GT). Under the terms of the agreement, Cooper Tire shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear common stock per Cooper Tire share for a total equity value of approximately $2.8 billion. Based on Goodyear’s closing stock price on February 19, 2021, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Cooper Tire shareholders is $54.36 per share,
The investigation concerns whether the Cooper Tire Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Goodyear is paying too little for the Company.
Cooper Tire & Rubber Company stock is now 39.85% up from its year-to-date (YTD) trading value. CTB Stock saw the intraday high of $57.68 and lowest of $51.48 per share. The company’s 52-week high price is 44.27, which means current price is +56.46% above from all time high which was touched on 02/22/21.
Compared to the average trading volume of 368.81K shares, CTB reached a trading volume of 10327500 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cooper Tire & Rubber Company [CTB]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTB shares is $44.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTB stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Northcoast have made an estimate for Cooper Tire & Rubber Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 29, 2019. The new note on the price target was released on May 23, 2019, representing the official price target for Cooper Tire & Rubber Company stock.
The Average True Range (ATR) for Cooper Tire & Rubber Company is set at 2.24, with the Price to Sales ratio for CTB stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 2.15, with the Price to Cash per share for the same quarter was set at 10.08. Price to Free Cash Flow for CTB in the course of the last twelve months was 7.21 with Quick ratio for the last quarter at 1.80.
How has CTB stock performed recently?
Cooper Tire & Rubber Company [CTB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.60. With this latest performance, CTB shares gained by 40.30% in over the last four-week period, additionally plugging by 63.94% over the last 6 months – not to mention a rise of 111.19% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTB stock in for the last two-week period is set at 87.15, with the RSI for the last a single of trading hit 93.11, and the three-weeks RSI is set at 81.38 for Cooper Tire & Rubber Company [CTB]. The present Moving Average for the last 50 days of trading for this stock 40.17, while it was recorded at 45.60 for the last single week of trading, and 34.36 for the last 200 days.
Cooper Tire & Rubber Company [CTB]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Cooper Tire & Rubber Company [CTB] shares currently have an operating margin of +8.09 and a Gross Margin at +19.72. Cooper Tire & Rubber Company’s Net Margin is presently recorded at +3.50.
Return on Total Capital for CTB is now 13.55, given the latest momentum, and Return on Invested Capital for the company is 6.60. Return on Equity for this stock inclined to 7.91, with Return on Assets sitting at 3.55. When it comes to the capital structure of this company, Cooper Tire & Rubber Company [CTB] has a Total Debt to Total Equity ratio set at 32.80. Additionally, CTB Total Debt to Total Capital is recorded at 24.70, with Total Debt to Total Assets ending up at 14.80. Long-Term Debt to Equity for the company is recorded at 28.82, with the Long-Term Debt to Total Capital now at 21.71.
Reflecting on the efficiency of the workforce at the company, Cooper Tire & Rubber Company [CTB] managed to generate an average of $11,056 per employee. Receivables Turnover for the company is 5.01 with a Total Asset Turnover recorded at a value of 1.01.Cooper Tire & Rubber Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.40.
Earnings analysis for Cooper Tire & Rubber Company [CTB]
With the latest financial reports released by the company, Cooper Tire & Rubber Company posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -76.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cooper Tire & Rubber Company go to -0.71%.
Insider trade positions for Cooper Tire & Rubber Company [CTB]
There are presently around $2,725 million, in the hands of institutional investors. The top three institutional holders of CTB stocks are: BLACKROCK INC. with ownership of 7,773,291, which is approximately 4.828% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 5,105,080 shares of the stock with an approximate value of $289.15 million in CTB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $220.11 million in CTB stock with ownership of nearly -4.362% of the company’s market capitalization.
Positions in Cooper Tire & Rubber Company stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 99 institutional holders increased their position in Cooper Tire & Rubber Company [NYSE:CTB] by around 2,420,166 shares. Additionally, 112 investors decreased positions by around 4,160,342 shares, while 32 investors held positions by with 41,535,808 shares. The mentioned changes placed institutional holdings at 48,116,316 shares, according to the latest SEC report filing. CTB stock had 39 new institutional investments in for a total of 914,637 shares, while 19 institutional investors sold positions of 215,186 shares during the same period.