Why Cooper Tire & Rubber Co's Shares Plunged 11% Today

Why Cooper Tire & Rubber Co's Shares Plunged 11% Todayā€¯

The share price of Cooper Tire & Rubber Company (NYSE:CTB) was up +0.12% during the last day of trading, with a day high of 43.85. Prior to the last earnings report, Zacks Research had a consensus estimate looking for EPS of $0.93.

Analysts await Cooper Tire & Rubber Company (NASDAQ:CTB) to report earnings on April, 27 for the fiscal quarter ending Mar 2017. First quarter net sales were negatively impacted by $11 million of lower unit volume and $9 million of negative foreign currency impact, partially offset by $13 million of favorable price and mix, primarily due to net price increases related to higher raw material costs. Based on a recent trade, the shares are hovering around $1.40 which, according to analysts, yield significant upside potential to the $3.50 consensus target price.

Goodyear's first quarter 2017 sales were $3.7 billion, about even with sales in the first quarter of 2016. Moreover, Fort Point Capital Partners Llc has 0.08% invested in the company for 154,100 shares.

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03/14/2017 - Cooper Tire & Rubber Company was upgraded to "overweight" by analysts at JP Morgan. GT reported a change of -0.53% over the last week and performed -2.63% over the last month while its year to date (YTD) performance revealed an activity trend of 15.53%.

The tire maker posted revenue of $643 million in the period, also missing Street forecasts. The stock was sold at an average price of $40.37, for a total value of $566,835.17. This scale runs from 1 to 5 where 1 represents Strong Buy and 5 represents Sell.

With these kinds of figures it is worthy to note that The Goodyear Tire & Rubber Company (GT) has been put into a neutral territory, but there are few other spots to consider. Breton Hill Capital Ltd.'s holdings in Goodyear Tire & Rubber Co were worth $994,000 at the end of the most recent reporting period. The company has PEG ratio of 1.16 and price to cash ratio of 8.18. Revenues were nearly at par with the figure posted a year ago, mainly due to improvement in price and mix as well as higher pricing of third-party chemical sales partially offset by lower tire unit volume. Standpoint Research downgraded the stock to "Hold" rating in Wednesday, March 1 report. Eaton Vance Management now owns 3,915,368 shares of the company's stock worth $126,466,000 after buying an additional 1,641,819 shares during the period. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The overall volume in the last trading session was 3.87 million shares, versus the average volume of 2.62 million shares.

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The Goodyear Tire & Rubber Company is a manufacturer of tires.

Goodyear Tire & Rubber Co (NASDAQ:GT) last posted its earnings results on Wednesday, February 8th. Analysts have a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). In general, companies with the lowest combined rank may be the higher quality picks. $174,137 worth of Goodyear Tire & Rubber Co (NASDAQ:GT) was sold by NOECHEL RICHARD J. Kihn Jean Claude sold $11,395 worth of stock or 371 shares. The Firm operates through four divisions: North America, Latin America, Europe, and Asia. As of December 31, 2016, the Company operated nine manufacturing facilities and 20 distribution centers in 10 countries. CLSA Maintains The Goodyear Tire & Rubber Company (GT) to Perform with a price target of $37. It also reduced Nabors Industries Ltd (NYSE:NBR) stake by 90,000 shares and now owns 220,000 shares.

Several investment firms issued their expert ratings on The Goodyear Tire & Rubber Company (GT) in which Jefferies Downgrades The Goodyear Tire & Rubber Company (GT) to Hold by settling a price target of $38 on 2/24/17.

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