NEW YORK (TheStreet) -- Shares of Cooper Tire & Rubber (CTB) are falling by 13.18% to $36.89 on heavy volume in early afternoon trading on Friday, after the replacement tire marketer and manufacturer posted a year-over-year decline in earnings and revenue for the most recent quarter that also fell short of analysts' expectations.
The company said it earned $41 million or 69 cents per share, compared to $45 million or 71 cents per share for the 2014 first quarter. Analysts polled by Thomson Reuters were expecting earnings of 77 cents per share for the quarter.
Net sales for the first quarter were $663 million versus $796 million for the same period last year. Analysts were looking for revenue of $682.6 million for the quarter.
So far today, 3.31 million shares of the company's stock have exchanged hands as compared to its average daily volume of 888,000 shares.
Cooper Tire & Rubber attributed the decline in profit to the sale of its joint venture in China and poor international growth, which weighed on its financial results for the quarter ended March 2015.
Separately, TheStreet Ratings team rates COOPER TIRE & RUBBER CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate COOPER TIRE & RUBBER CO (CTB) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: CTB Ratings ReportCTB data by YCharts