It has been a positive week for CTB. On January 27 they hit a new 52-week high reaching a peak of $35.81 after opening at $35.47 and closing at $35.50 for a move of $-0.59%.
Hitting a new 52-week high is a notable milestone for any company, and it can mean a trading opportunity on either the long or short side, depending on one’s perspective. Some view a company hitting its highest price in a year as a sign of momentum and think it means it’s time to buy in. Others, though, tend to interpret a new 52-week high as likely signaling the end of a strong run, with the stock peaking out before a period of decline.
However one plays it, it’s often a critical moment for any stock and should be noted by investors.
The new 52-week high came on a volume of 641,703 for a stock that has a float of 58.11 million shares and an average daily volume of $865,835. The day’s trading means the company’s market cap is now at $2.06 billion and it has a 50-day SMA of $32.91 and a 200-day SMA of $29.93.
Cooper Tire & Rubber Co. now has a P/E ratio of 15.