The Goodyear Tire & Rubber Company (GT) Lowered to “Neutral” at Guggenheim

The Goodyear Tire & Rubber Company (NASDAQ:GT) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, November 1st, MarketBeat Ratings reports. They presently have a $39.00 price objective on the stock. Guggenheim’s price target suggests a potential upside of 27.24% from the stock’s previous close.

A number of other equities research analysts have also recently commented on GT. Zacks Investment Research cut The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub raised The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine cut The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley set a $52.00 target price on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG cut The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $37.55.

The Goodyear Tire & Rubber (NASDAQ:GT) opened at $30.65 on Wednesday. The firm has a market capitalization of $7,380.00, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.84 and a beta of 1.51. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The Goodyear Tire & Rubber has a 52-week low of $28.81 and a 52-week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The Goodyear Tire & Rubber’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. equities analysts anticipate that The Goodyear Tire & Rubber will post 2.88 EPS for the current fiscal year.

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In related news, insider Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $33.26, for a total value of $249,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 22,712 shares of company stock valued at $728,079 in the last quarter. 1.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Financial Architects Inc increased its position in shares of The Goodyear Tire & Rubber by 2.2% during the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after purchasing an additional 75 shares in the last quarter. First Quadrant L P CA acquired a new position in shares of The Goodyear Tire & Rubber during the second quarter worth $130,000. Washington Trust Bank increased its position in shares of The Goodyear Tire & Rubber by 46.3% during the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after purchasing an additional 1,230 shares in the last quarter. Exane Derivatives increased its position in shares of The Goodyear Tire & Rubber by 204,800.0% during the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after purchasing an additional 4,096 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of The Goodyear Tire & Rubber by 143.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after purchasing an additional 2,682 shares in the last quarter. Institutional investors own 93.87% of the company’s stock.

The Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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

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