The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Average Recommendation of “Hold” by Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $10.30.

A number of research analysts recently issued reports on GT shares. Zacks Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Citigroup raised their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after buying an additional 1,011 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in Goodyear Tire & Rubber by 1.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock worth $657,000 after buying an additional 1,065 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Goodyear Tire & Rubber by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock valued at $98,000 after acquiring an additional 1,152 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Goodyear Tire & Rubber by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock valued at $1,153,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Goodyear Tire & Rubber by 2.8% during the 4th quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock valued at $496,000 after acquiring an additional 1,529 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

GT opened at $6.44 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.57. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -1.08, a price-to-earnings-growth ratio of 0.27 and a beta of 1.12. The stock has a fifty day simple moving average of $8.39 and a two-hundred day simple moving average of $8.21. Goodyear Tire & Rubber has a 12-month low of $6.14 and a 12-month high of $12.03.

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

About Goodyear Tire & Rubber

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.