Jefferies Raises Price Target on Cooper-standard Holdings (CPS) to $95; Reiterates Buy
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Cooper Standard Reports Record Quarterly Results
May 3, 2016 4:30 PM EDTNOVI, Mich., May 3, 2016 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today reported record results for the first quarter 2016.
First Quarter 2016 Highlights
Sales increased 7.8 percent, significantly outpacing industry production Excluding the impact of foreign exchange, sales increased 11.3 percent Net income totaled $30.6 million or $1.64 per diluted share Adjusted EBITDA increased 28.3 percent to a record $103.6 million Adjusted net income totaled $47.4 million or $2.54 per diluted share Free cash flow improved by $33.7 million vs. first quarter of... More