The Goodyear Tire & Rubber Company (NASDAQ:GT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley reiterated a “buy” rating and set a $46.00 price target on shares of The Goodyear Tire & Rubber in a report on Monday, September 11th. ValuEngine cut The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. KeyCorp reiterated a “buy” rating and set a $37.00 price target on shares of The Goodyear Tire & Rubber in a report on Thursday, October 12th. Zacks Investment Research upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price target for the company in a report on Monday, October 9th. Finally, Deutsche Bank AG cut The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $37.55.

Shares of The Goodyear Tire & Rubber (GT) traded down $0.49 during trading hours on Friday, reaching $29.45. The company’s stock had a trading volume of 2,610,000 shares, compared to its average volume of 3,120,000. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The stock has a market cap of $7,250.00, a PE ratio of 9.50, a P/E/G ratio of 0.82 and a beta of 1.51. The Goodyear Tire & Rubber has a 12 month low of $27.59 and a 12 month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 EPS. analysts predict that The Goodyear Tire & Rubber will post 2.91 EPS for the current year.

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In related news, insider Jean Claude Kihn sold 7,500 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $33.26, for a total transaction of $249,450.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 23,001 shares of company stock worth $736,841. 1.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in The Goodyear Tire & Rubber by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,670,006 shares of the company’s stock valued at $862,464,000 after purchasing an additional 394,170 shares in the last quarter. LSV Asset Management raised its position in The Goodyear Tire & Rubber by 6.6% in the 2nd quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after purchasing an additional 634,919 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in The Goodyear Tire & Rubber by 6.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after purchasing an additional 411,401 shares in the last quarter. Bank of New York Mellon Corp raised its position in The Goodyear Tire & Rubber by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,202,190 shares of the company’s stock valued at $216,826,000 after purchasing an additional 852,947 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in The Goodyear Tire & Rubber by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,154,023 shares of the company’s stock valued at $145,221,000 after purchasing an additional 67,997 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

About The Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

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