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Cooper-Standard Holdings

Cooper-Standard is an automotive supplier specializing in the manufacturing of systems and components for a variety of applications within the automotive industry. Products include body sealing systems, fluid handling systems, and NVH control systems. The firm maintains two operating divisions: North America and International, and employs roughly 32,000 people globally with more than 70 facilities across 20 countries. Cooper-Standard is the global market leader in sealing products and systems, which accounted for 51% of total 1Q18 revenues. CPS also lays claim to a #2 position in Fuel and Brake Delivery products (21% of 1Q18 sales), and is #3 in Fluid transfer systems (15% of sales). While CPS maintains a global footprint the majority of its sales are concentrated in North America, which accounted for 52% 1Q18 revenues, followed by Europe at 30%, while Asia Pacific and South America accounted for 15% and 3% respectively. It is important to note Cooper-Standard does have outsized consumer risk with a handful of customers, namely the old Detroit 3 which together accounted for 56% of 2016 sales where Ford was 27%, GM 17% and FCA 12%. (26 Jun 2018)

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November 2018 US Company Recommendation Changes

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Focused

Cooper-Standard: 3Q18 - Shift Down to Underperform

Worth Watching: 04 Nov 2018, 11:41 PM ET - Cooper-Standard (B1/B+) reported weak set of 3Q18 results driven by lower demand from Europe and Asia. Moreover, higher commodity costs including steel and aluminum weighed on the quarter again, all of which resulted in the company lowering its ..

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Focused

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