The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $11.36 Average Target Price from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.3571.

Several research firms have recently issued reports on GT. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Hsbc Global Res downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. HSBC reaffirmed a “hold” rating and set a $9.50 price objective (down from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. BNP Paribas lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. Finally, BNP Paribas Exane restated a “neutral” rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $8.10 on Thursday. The business has a 50-day simple moving average of $7.52 and a 200-day simple moving average of $9.27. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. Goodyear Tire & Rubber has a one year low of $6.51 and a one year high of $12.03. The company has a market cap of $2.32 billion, a PE ratio of 5.70, a P/E/G ratio of 2.35 and a beta of 1.32.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Greenvale Capital LLP acquired a new stake in Goodyear Tire & Rubber during the 2nd quarter worth $106,292,000. Marshall Wace LLP grew its holdings in shares of Goodyear Tire & Rubber by 1,107.5% during the second quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock worth $81,152,000 after purchasing an additional 7,177,542 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter worth about $32,301,000. Maple Rock Capital Partners Inc. increased its position in shares of Goodyear Tire & Rubber by 215.6% during the second quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company’s stock worth $57,676,000 after purchasing an additional 3,799,383 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at about $29,112,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.