Cooper Tire Rubber (CTB) Gets a Buy Rating from B.Riley FBR


In a report released today, Christopher Van Horn from B.Riley FBR reiterated a Buy rating on Cooper Tire Rubber (CTB), with a price target of $40. The company’s shares opened today at $30.43.

Van Horn commented:

“Despite challenging international markets, Rubber (CTB) continues to execute well in the North American market. The company beat our expectations on the top line and met our expectations on the bottom line. Operating results faced both tariff and restructuring charges during the quarter that caused headwinds to EPS, however, revenues in North America beat our estimates. Price and mix were a significant contributor to revenues during 1Q19, which translated into a better-than-expected operating margin. The company essentially kept their guidance for the year, but slightly modified the expected restructuring expense for the year around the closing of their Melksham, England facility.”

According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.5% and a 48.7% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Methode Electronics, Hickok Incorporated, and Dorman Products.

Cooper Tire Rubber has an analyst consensus of Hold.

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The company has a one-year high of $35.36 and a one-year low of $23.27. Currently, Cooper Tire Rubber has an average volume of 443.3K.

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Cooper Tire & Rubber Co. specializes in the design, manufacture, marketing and sale of passenger car, light truck, medium truck, motorcycle and racing tires. It operates through the following geographical segments: North America, Latin America, Europe, and Asia. The North America segment consists of United States and Canada.

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