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Weakness Seen in Goodyear (GT): Stock Tumbles 8%

Zacks Equity Research

The Goodyear Tire & Rubber Company (GT) saw a big move last session, as the company’s shares fell nearly 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 about 9% in the past one-month time frame.

This slump shouldn’t be too much of a surprise to investors, as the tire company 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 Cooper Tire & Rubber Co. (CTB), Visteon Corporation (VC) and Magna International Inc. (MGA). While Cooper Tire & Rubber and Visteon carry a Zacks Rank #1 (Strong Buy), Magna International sports a Zacks Rank #2 (Buy).

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THE GOODYEAR TIRE & RUBBER CO (GT): Free Stock Analysis Report

COOPER TIRE & RUBR CO (CTB): Free Stock Analysis Report

VISTEON CORP (VC): Free Stock Analysis Report

MAGNA INTL INC (MGA): Free Stock Analysis Report

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