The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $10.83 Average PT from Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received a consensus recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.30.

A number of brokerages have issued reports on GT. Citigroup increased their price objective on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley boosted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Large investors have recently made changes to their positions in the company. Focus Partners Wealth bought a new position in Goodyear Tire & Rubber during the third quarter valued at approximately $25,000. EFG International AG bought a new stake in Goodyear Tire & Rubber in the 4th quarter worth approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $26,000. Hantz Financial Services Inc. raised its holdings in shares of Goodyear Tire & Rubber by 384.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after acquiring an additional 4,198 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at approximately $47,000. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock traded down $0.28 during trading hours on Friday, hitting $7.50. The company’s stock had a trading volume of 7,830,738 shares, compared to its average volume of 8,218,131. The business has a 50 day moving average price of $9.10 and a two-hundred day moving average price of $8.40. Goodyear Tire & Rubber has a 12-month low of $6.51 and a 12-month high of $12.03. The company has a market cap of $2.15 billion, a PE ratio of -1.25, a PEG ratio of 0.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.54 and a current ratio of 1.06.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 EPS. Analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.