Cooper Tire Rubber Receives a Buy from B.Riley FBR

By Carrie Williams

In a report released today, Christopher Van Horn from B.Riley FBR assigned a Buy rating to Cooper Tire Rubber (NYSE: CTB), with a price target of $40. The company’s shares opened today at $25.50, close to its 52-week low of $22.58.

Van Horn observed:

“We believe that April industry tire data reported by 16 could be an incremental positive for Cooper Tire (CTB-Buy, $40 PT). We recognize that this is one data point and only one month but given the pressures that the tire industry has faced, we find it useful and relevant. Michelin’s data indicate that light vehicle replacement tire demand was roughly flat Y/Y in April in mature markets (which we believe include after adjusting for an extra selling day in April 2018 vs. April 2017. After a series of declines year over year in light vehicle tire shipments, we think that a flat result is positive. Also, North American truck and bus replacement tire demand was up sharply Y/Y in April according to the data (adjusting for the selling day difference).”

According to, Horn is a 4-star analyst with an average return of 7.1% and a 57.0% success rate. Horn covers the Industrial Goods sector, focusing on stocks such as Superior Industries International, Tower International, and Park-Ohio Holdings.

Cooper Tire Rubber has an analyst consensus of Moderate Buy, with a price target consensus of $36.50.

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Based on Cooper Tire Rubber’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $8.29 million. In comparison, last year the company had a net profit of $30.56 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTB in relation to earlier this year.

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Cooper Tire & Rubber Co. engages in tire solutions. Its activities include design, manufacture, marketing and sales replacement tires focuses on passenger car, light truck, medium truck, motorcycle, and racing cars. It operates through the following geographical segments: North America, Latin America, Europe, and Asia.