The Goodyear Tire & Rubber Company (GT) saw a big move last session, as the company’s shares fell about 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for GT, as the stock is now down nearly 4% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company which is a manufacturer and distributor if tires and related products and services, has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
GT currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same sector include CNH Industrial N.V. (CNHI), Magna International Inc. (MGA) and Commercial Vehicle Group Inc. (CVGI). All these stocks hold a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
THE GOODYEAR TIRE & RUBBER CO (GT): Free Stock Analysis Report
CNH INDUSTRIAL NV (CNHI): Free Stock Analysis Report
MAGNA INTL INC (MGA): Free Stock Analysis Report
COMMERCIAL VEHICLE GROUP INC (CVGI): Free Stock Analysis Report
Zacks Investment Research