Cooper Tire (CTB) To Grow From Network Expansion In The US

On Feb 13, we issued an updated research report on the tire manufacturer and seller, Cooper Tire & Rubber Company (NYSE:CTB) .

The company is slated to announce its fourth-quarter and fiscal 2017 earnings on Feb 20, 2018. For full-year 2017, it expects the operating margin to be at the higher end of the previously announced mid-term target of 8-10%. Further, Cooper Tire expects capital expenditure within the band of $190-$210 million.

In order to improve its business operations, the company has been focusing on expanding product distribution network in the United States. At the beginning of February, Cooper Tire announced its decision to open an additional warehouse in Byhalia, MS. Additionally, its good-quality brands, loyal customer base, efficient workforce and strong technical capabilities help the company to reinforce its position in the market.

Cooper Tire & Rubber Company Price and Consensus

Further, Cooper Tire is expanding its presence in Asia. It opened two technology centers in China with an aim to develop technical and manufacturing abilities. Additionally, it also acquired GRT, which will be used as a global source of truck and bus radial (TBR) tires for its diverse set of markets including, North America and Asia.

Also, it continues to develop great products with superior design and functionality, in order to keep the market satisfied across all regions.

Price Performance

Cooper Tire’s stock has surged 5.5% in the last six months, outperforming the 1% rally of the industry it belongs to.

Zacks Rank & Other Stocks to Consider

Cooper Tire has a Zacks Rank #2 (Buy). Other top-ranked stocks in the auto space include PACCAR Inc. (NASDAQ:PCAR) , Genuine Parts Company (NYSE:GPC) and Lear Corporation (NYSE:LEA) , each carrying a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

PACCAR has an expected long-term growth rate of 10%. In the last six months, shares of the company have gained 5.1%.

Genuine Parts has an expected long-term growth rate of 7.2%. Shares of the company have rallied 20.2% in the last six months.

Lear Corp. has an expected long-term growth rate of 7.1%. In the last six months, shares of the company have jumped 29.9%.

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