10 High Growth IT Stocks To Invest In Now

5. Cooper-Standard Holdings Inc. (NYSE:CPS)

5 Year Revenue CAGR: 17.07%

Average Upside Potential as of November 14: 23.00%

Cooper-Standard Holdings Inc. (NYSE:CPS) is a leading global supplier of systems and components for sealing and fluid handling solutions supporting diverse transportation and industrial markets. Its products are used in passenger vehicles and light trucks worldwide.

Safety remains a top priority for this company. In the third quarter of 2024, it reported its best-ever safety performance with a total incident rate of 0.20, well below the industry standard of 0.47. Additionally, 29 of its plants maintained a perfect safety record.

On the financial front, the company generated $685.35 million in quarterly revenue for Q3 2024. However, this was down by 6.89%, as compared to the year-ago period. This decline is mainly attributed to challenges like lower production volumes and unfavorable foreign exchange rates. Cooper-Standard Holdings Inc. (NYSE:CPS) is now working further on cost-saving measures, including lean initiatives and restructuring efforts.

It secured $44 million in new business awards in Q3, showcasing its innovative capabilities and strong market position. This significant achievement highlights the company’s ability to adapt to the evolving automotive industry and deliver cutting-edge solutions, positioning it for success in its industry.