ChoicePoint Inc. Common Stock (CPS) Sees Large Drop in Short Interest

ChoicePoint Inc. Common Stock (NYSE:CPS) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 502,059 shares, a decline of 36.9% from the July 13th total of 796,079 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 156,618 shares, the days-to-cover ratio is presently 3.2 days.

Shares of ChoicePoint Inc. Common Stock stock opened at $137.79 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. ChoicePoint Inc. Common Stock has a 12 month low of $97.70 and a 12 month high of $146.77. The firm has a market cap of $2.43 billion, a P/E ratio of 12.54 and a beta of 0.73.

ChoicePoint Inc. Common Stock (NYSE:CPS) last announced its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $2.99 by ($0.25). ChoicePoint Inc. Common Stock had a return on equity of 24.74% and a net margin of 4.10%. The company had revenue of $928.26 million for the quarter, compared to analyst estimates of $903.17 million. During the same period last year, the firm earned $2.60 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. equities research analysts anticipate that ChoicePoint Inc. Common Stock will post 12.13 earnings per share for the current fiscal year.

ChoicePoint Inc. Common Stock announced that its Board of Directors has approved a share repurchase program on Wednesday, June 20th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the auto parts company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of equities research analysts have recently weighed in on CPS shares. Zacks Investment Research upgraded ChoicePoint Inc. Common Stock from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research report on Friday, May 4th. ValuEngine downgraded ChoicePoint Inc. Common Stock from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Roth Capital boosted their target price on ChoicePoint Inc. Common Stock from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $125.20.

In other news, insider Miguel Posada Juan Fernando De sold 2,100 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $144.00, for a total transaction of $302,400.00. Following the completion of the sale, the insider now owns 7,931 shares in the company, valued at $1,142,064. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Keith Dwayne Stephenson sold 8,343 shares of the business’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $132.49, for a total value of $1,105,364.07. Following the sale, the vice president now owns 80,899 shares of the company’s stock, valued at approximately $10,718,308.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,386 shares of company stock valued at $5,430,223. Corporate insiders own 3.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Unigestion Holding SA acquired a new stake in shares of ChoicePoint Inc. Common Stock during the second quarter worth $2,223,000. Principal Financial Group Inc. grew its stake in shares of ChoicePoint Inc. Common Stock by 4.8% during the first quarter. Principal Financial Group Inc. now owns 134,287 shares of the auto parts company’s stock worth $16,492,000 after purchasing an additional 6,183 shares during the period. GW&K Investment Management LLC grew its stake in shares of ChoicePoint Inc. Common Stock by 38.9% during the first quarter. GW&K Investment Management LLC now owns 3,228 shares of the auto parts company’s stock worth $396,000 after purchasing an additional 904 shares during the period. Aperio Group LLC grew its stake in shares of ChoicePoint Inc. Common Stock by 10.5% during the first quarter. Aperio Group LLC now owns 7,867 shares of the auto parts company’s stock worth $966,000 after purchasing an additional 747 shares during the period. Finally, Swiss National Bank grew its stake in shares of ChoicePoint Inc. Common Stock by 2.0% during the first quarter. Swiss National Bank now owns 30,800 shares of the auto parts company’s stock worth $3,783,000 after purchasing an additional 600 shares during the period. 99.20% of the stock is owned by institutional investors and hedge funds.

About ChoicePoint Inc. Common Stock

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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