Cooper Tire & Rubber Company (NYSE:CTB) is among the top gainers of the stock market today, skyrocketing 4.23% or (1.07 points) to $26.34 from its previous close of $25.27. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 396309 contracts so far this session. CTB shares had a relatively better volume day versus average trading capacity of 351.91 thousand shares, but with a 49.74 million float and a 11.37% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CTB stock indicates that the average analyst price target is $31.4 per share. This means the stock has a potential increase of 19.21% from where the CTB share price has been trading recently which is between $24.49 and $25.405. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $25.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Cooper Tire (CTB) Down 14.1% Since Last Earnings Report: Can It Rebound?” and dated August 28, 2019.
During the recent trading session for Cooper Tire & Rubber Company (NYSE:CTB), the company witnessed their stock rise $3.51 over a week and surge $1.95 from the price 20 days ago. When compared to their established 52-week high of $35.36, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 11/14/18. The recent low of $22.46 stood for a -25.51% since 08/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.66 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cooper Tire & Rubber Company, the two-week RSI stands at 59.84. This figure suggests that CTB stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CTB readings is similarly very revealing as it has a stochastic reading of 97.92% at this stage. This figure means that CTB share price today is being oversold.
Technical chart claims that Cooper Tire & Rubber Company (CTB) would settle between $25.62/share to $25.97/share level. However, if the stock price goes below the $24.7 mark, then the market for Cooper Tire & Rubber Company becomes much weaker. If that happens, the stock price might even plunge as low as $24.14 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.27. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at KeyBanc Capital Markets, assumed coverage of CTB assigning Overweight rating, according to their opinion released on May 23. Wolfe Research, analysts launched coverage of Cooper Tire & Rubber Company (NYSE:CTB) stock with a Underperform recommendation, according to their flash note issued to investors on October 02. Analysts at Longbow lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to March 13.
CTB equity has an average rating of 1, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Cooper Tire & Rubber Company (NYSE:CTB) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CTB stock price is currently trading at 9.44X forward 12-month Consensus EPS estimates, and its P/E ratio is 11.86 while for the average stock in the same group, the multiple is 10.42. Cooper Tire & Rubber Company current P/B ratio of 1.01 means it is trading at a premium against its industry’s 0.86.
Cooper Tire & Rubber Company (CTB)’s current-quarter revenues are projected to climb by nearly -0.76% to hit $732040, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.13% from $2.81 billion to a noteworthy $2.8 billion. At the other end of the current quarter income statement, Cooper Tire & Rubber Company is expected to see its adjusted earnings surge by roughly -55.14% to hit $0.48 per share. For the fiscal year, CTB’s earnings are projected to climb by roughly -28.9% to hit $1.55 per share.