ChoicePoint (CPS) Upgraded to “Buy” at Buckingham Research

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ChoicePoint (NYSE:CPS) was upgraded by equities researchers at Buckingham Research from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.

Other equities analysts have also recently issued research reports about the company. Roth Capital set a $130.00 price target on ChoicePoint and gave the stock a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research cut ChoicePoint from a “buy” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine cut ChoicePoint from a “hold” rating to a “sell” rating in a report on Wednesday, December 26th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $77.00 price target (down previously from $90.00) on shares of ChoicePoint in a report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. ChoicePoint presently has a consensus rating of “Hold” and an average target price of $104.25.

Shares of CPS stock opened at $68.90 on Monday. The stock has a market capitalization of $1.24 billion, a PE ratio of 6.22 and a beta of 1.14. The company has a quick ratio of 1.44, a current ratio of 1.67 and a debt-to-equity ratio of 0.80. ChoicePoint has a 52-week low of $56.68 and a 52-week high of $146.77.

ChoicePoint (NYSE:CPS) last issued its quarterly earnings data on Friday, November 2nd. The auto parts company reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($1.16). The company had revenue of $861.70 million during the quarter, compared to analyst estimates of $851.09 million. ChoicePoint had a net margin of 4.31% and a return on equity of 22.00%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $2.11 EPS. As a group, equities research analysts expect that ChoicePoint will post 9.38 earnings per share for the current fiscal year.

In other ChoicePoint news, Director Matthew Simoncini purchased 5,500 shares of ChoicePoint stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average price of $72.48 per share, with a total value of $398,640.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Jeffrey S. Edwards purchased 13,200 shares of ChoicePoint stock in a transaction that occurred on Wednesday, November 7th. The stock was acquired at an average cost of $74.12 per share, with a total value of $978,384.00. Following the acquisition, the chairman now directly owns 100,676 shares in the company, valued at approximately $7,462,105.12. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank acquired a new position in shares of ChoicePoint during the third quarter valued at approximately $196,000. Commonwealth Bank of Australia acquired a new position in shares of ChoicePoint during the third quarter valued at approximately $251,000. Meeder Asset Management Inc. raised its holdings in shares of ChoicePoint by 255.4% during the third quarter. Meeder Asset Management Inc. now owns 2,577 shares of the auto parts company’s stock valued at $310,000 after acquiring an additional 1,852 shares during the last quarter. Affinity Investment Advisors LLC raised its holdings in shares of ChoicePoint by 88.9% during the third quarter. Affinity Investment Advisors LLC now owns 2,947 shares of the auto parts company’s stock valued at $354,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of ChoicePoint by 31.9% during the third quarter. Wedge Capital Management L L P NC now owns 2,976 shares of the auto parts company’s stock valued at $357,000 after acquiring an additional 720 shares during the last quarter. 95.87% of the stock is owned by institutional investors.

About ChoicePoint

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.

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