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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received a consensus recommendation of “Reduce” from the nine ratings firms that are covering the firm, MarketBeat reports. Three research 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $8.5429.

A number of analysts recently commented on the stock. Citigroup dropped their target price on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. TD Cowen dropped their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Zacks Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $7.02 on Friday. Goodyear Tire & Rubber has a 1 year low of $5.43 and a 1 year high of $11.79. The firm has a market cap of $2.02 billion, a P/E ratio of -0.97 and a beta of 1.12. The stock has a fifty day moving average price of $6.26 and a two-hundred day moving average price of $7.51. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Research analysts forecast that Goodyear Tire & Rubber will post -0.27 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently bought and sold shares of GT. Focus Partners Wealth acquired a new position in shares of Goodyear Tire & Rubber in the third quarter worth about $25,000. EFG International AG purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $26,000. Los Angeles Capital Management LLC purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after purchasing an additional 5,248 shares during the period. Finally, Parallel Advisors LLC raised its stake in Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after purchasing an additional 2,538 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.