Cooper Standard: Zacks’ Bull of the Day Play

It’s hard to argue with the Zacks Rank and Style Scores. Sure I’ve heard people say it lags the market and can take too long to turn around but overall, you can’t argue the numbers. Annualized 26% return since 1988. Where else can you find that? So when I’m looking for a “Bull of the Day” I don’t try to come out here and reinvent the wheel. Why not stick to what works? And what works is looking for a Zacks Rank #1 (Strong Buy) that has a Momentum Style Score of “A.”

Cooper-Standard (CPSSnapshot Report) is a global manufacturer and supplier of systems and components for the automotive industry. Its products include fluid transfer, fuel and brake delivery systems, anti-vibration systems, body sealing and body trim and other automotive components. Its products are used primarily in passenger vehicles and light trucks by global automotive original equipment manufacturers (OEMs) and in replacement markets.

Cooper-Standard operates four main segments: North America, Europe, South America, and Asia Pacific. Cooper-Standard operates in over 20 countries globally and has more than 25,000 employees. Cooper-Standard was founded in 2004 when it was sold by Cooper Tire & Rubber Company.

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Cooper-Standard’s earnings surprise history is a big reason why it’s a Zacks Rank #1 (Strong Buy). The company has beat earnings estimates each of the last four quarters by an average of 64 cents. Last quarter’s beat saw EPS come in at $2.21 versus our Zacks Consensus Estimate calling for $1.41.

The bullish history is a big reason why shares have gone on such a big run since September. After bottoming out just shy of the August low near $54, shares crossed over the 20-day moving average and began an uptrend that stalled at the 52-week high in late October. Following the great earnings report, shares leapfrogged that level and have since pushed all the way to $73. Volumes have seen a bit of an uptick as well over the last few weeks. Support to the downside remains below $72. Further down than that, the next significant level is the previous congestion near $65.

Be sure to click FOLLOW THE AUTHOR above to stay on top of all the hot momentum stocks at Zacks.com. David Bartosiak is the Momentum Stock Strategist with Zacks, editor of the Momentum Trader and Home Run Investor, and host of “Trending Stocks”

 

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