The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $15.00 Average PT from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $17.25.

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $21.00 in a research report on Thursday, November 16th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Goodyear Tire & Rubber from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 16th.

Goodyear Tire & Rubber Trading Up 0.2 %

Shares of Goodyear Tire & Rubber stock opened at $14.21 on Tuesday. Goodyear Tire & Rubber has a 52-week low of $9.66 and a 52-week high of $16.50. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 1.56. The company’s 50-day simple moving average is $12.52 and its 200-day simple moving average is $13.31. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -8.07 and a beta of 1.81.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.17. Goodyear Tire & Rubber had a negative net margin of 2.47% and a negative return on equity of 1.03%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Goodyear Tire & Rubber will post 0.02 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors and hedge funds have recently modified their holdings of the business. Ancora Advisors LLC lifted its holdings in shares of Goodyear Tire & Rubber by 71.4% in the first quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. First Manhattan Co. acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Goodyear Tire & Rubber during the 1st quarter worth $36,000. Fifth Third Bancorp lifted its stake in shares of Goodyear Tire & Rubber by 49.0% during the 2nd quarter. Fifth Third Bancorp now owns 3,006 shares of the company’s stock worth $41,000 after purchasing an additional 989 shares during the period. Finally, Trivant Custom Portfolio Group LLC acquired a new stake in shares of Goodyear Tire & Rubber during the first quarter worth $44,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.