Cooper-Standard Holdings Inc. (NYSE:CPS) stock identified change of 31.96% away from 52-week low price and recently located move of -67.54% off 52-week high price. It has market worth of $820.53M. CPS stock has been recorded 8.93% away from 50 day moving average and -20.92% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.57% off 20-day moving average.
On Aug. 1, 2019, Cooper-Standard Holdings Inc. (NYSE:CPS) reported results for the second quarter 2019.
Second Quarter 2019 Summary
- Sales totaled $764.8 million
- Net income of $145.3 million or $8.36 per diluted share
- Adjusted EBITDA of $58.1 million or 7.6 percent of sales
- Adjusted net income of $5.4 million or $0.31 per diluted share
- Contract awards related to innovation products for annualized sales of $171 million
- Significant new Fortrex™ technology agreement signed subsequent to quarter end
Our results for the quarter were once again negatively impacted by continuing weak production volume and mix in China and Europe, as well as the slower than expected ramp up of an important new vehicle platform in North America, said Jeffrey Edwards, chairman and CEO, Cooper Standard. Looking ahead, we expect these challenging market dynamics to continue at least through the end of the year, and we have revised our full-year outlook accordingly.
We are working to mitigate these headwinds as much as possible by accelerating planned restructuring and further streamlining the business under our global management structure, Edwards added. We expect these actions will help us to improve our overall efficiency in the near-term and better position the Company for long-term profitable growth. We remain on track with our new program launches, cost reduction initiatives and the strategic diversification of our business. The Consumer Goods sector company, Cooper-Standard Holdings Inc. noticed change of -3.70% to $47.65 along volume of 240714 shares in recent session compared to an average volume of 190.78K. The stock observed return of -2.97% in 5 days trading activity. The stock was at 6.74% over one month performance. CPS’s shares are at -11.79% for the quarter and driving a -64.65% return over the course of the past year and is now at -23.29% since this point in 2018.
The average volatility for the week at 4.75% and for month was at 4.67%. There are 17.22M shares outstanding and 17.17M shares are floated in market. Right now the stock beta is 1.58.
Michelle Willette – Category – Market Movers
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Email Contact – [email protected]
Address – 1404 St Jean Baptiste St, Hebertville Station, Quebec
Zip Code – G0W 1T0
Phone Number – 418-343-0773