The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Rating of “Hold” from Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GTGet Free Report) have been given an average recommendation of “Hold” by the ten research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.85.

GT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Zacks Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Morgan Stanley upped their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research report on Friday, November 28th. Finally, Citigroup decreased their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th.

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Institutional Investors Weigh In On Goodyear Tire & Rubber

Hedge funds have recently added to or reduced their stakes in the business. Econ Financial Services Corp purchased a new position in Goodyear Tire & Rubber during the 2nd quarter worth $923,000. Anderson Financial Strategies LLC bought a new position in shares of Goodyear Tire & Rubber during the third quarter valued at about $1,318,000. EVR Research LP bought a new position in shares of Goodyear Tire & Rubber during the second quarter valued at about $10,370,000. JPMorgan Chase & Co. boosted its holdings in Goodyear Tire & Rubber by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock worth $21,171,000 after purchasing an additional 247,609 shares during the last quarter. Finally, Monaco Asset Management SAM bought a new stake in Goodyear Tire & Rubber in the 2nd quarter worth about $726,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Down 0.1%

Shares of NASDAQ:GT opened at $10.53 on Tuesday. The firm has a market cap of $3.01 billion, a P/E ratio of -1.73, a P/E/G ratio of 0.79 and a beta of 1.18. Goodyear Tire & Rubber has a 12-month low of $6.51 and a 12-month high of $12.03. The business has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $8.50. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 2.29.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The company had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $0.39 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber News Roundup

Here are the key news stories impacting Goodyear Tire & Rubber this week:

About Goodyear Tire & Rubber

(Get Free Report)

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.

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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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