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Goodyear (GT) to Recall 173K 20-Year-Old Inefficient RV Tires
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Goodyear Tire (GT - Free Report) recently announced that it is recalling around 173,000 G159 tires used in recreational vehicles (RVs).
The National Highway Traffic Safety Administration (“NHTSA”) has stated that the tires experienced high chances of failure on RVs compared to other similar tires, which can be a potential cause of serious injury or death.
The tires were produced between 1996 and 2003 and are no longer in production. However, there stands a chance that the tires are still prevalent in online marketplaces. There is also a possibility that some RV owners may have the tires on their vehicles or kept aside as a spare and are unaware of the issue. The NHTSA has cautioned anyone who owns, rents, or uses an RV or truck to not use these tires on the vehicles.
The NHTSA has received 10 consumer complaints on the failure of Goodyear G159 tires on motor homes, with two complaints of a crash. Tire defects have also led to deaths for which lawsuits have already been filed. Goodyear had probably turned a deaf ear to the allegations.
This time it has agreed to act upon the issue and offer mitigating solutions. Drivers with the affected tires can get a free replacement from Goodyear Commercial Tire and Service Network’s location or an authorized Goodyear commercial truck tire dealer immediately.
The company is also offering $500 for impacted tires that have not been fitted on an RV.
Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 3.6% over the past year.
Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.
Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 40.8% over the past year.
Standard Motor has an expected earnings growth rate of 2% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has declined 13.3% over the past year.
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Goodyear (GT) to Recall 173K 20-Year-Old Inefficient RV Tires
Goodyear Tire (GT - Free Report) recently announced that it is recalling around 173,000 G159 tires used in recreational vehicles (RVs).
The National Highway Traffic Safety Administration (“NHTSA”) has stated that the tires experienced high chances of failure on RVs compared to other similar tires, which can be a potential cause of serious injury or death.
The tires were produced between 1996 and 2003 and are no longer in production. However, there stands a chance that the tires are still prevalent in online marketplaces. There is also a possibility that some RV owners may have the tires on their vehicles or kept aside as a spare and are unaware of the issue. The NHTSA has cautioned anyone who owns, rents, or uses an RV or truck to not use these tires on the vehicles.
The NHTSA has received 10 consumer complaints on the failure of Goodyear G159 tires on motor homes, with two complaints of a crash. Tire defects have also led to deaths for which lawsuits have already been filed. Goodyear had probably turned a deaf ear to the allegations.
This time it has agreed to act upon the issue and offer mitigating solutions. Drivers with the affected tires can get a free replacement from Goodyear Commercial Tire and Service Network’s location or an authorized Goodyear commercial truck tire dealer immediately.
The company is also offering $500 for impacted tires that have not been fitted on an RV.
Zacks Rank and Key Picks
GT currently carries a Zacks Rank #4 (Sell).
Better-ranked players in the auto space include Wabash National Corporation (WNC - Free Report) , carrying a Zacks Rank #1 (Strong Buy) and Fox Factory Holdings (FOXF - Free Report) and Standard Motor Products (SMP - Free Report) , each carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 3.6% over the past year.
Fox Factory has an expected earnings growth rate of 14.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 1% upward in the past 30 days.
Fox Factory’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. FOXF pulled off a trailing four-quarter earnings surprise of 10.18%, on average. The stock has declined 40.8% over the past year.
Standard Motor has an expected earnings growth rate of 2% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has declined 13.3% over the past year.