Analysts Set The Goodyear Tire & Rubber Company (NASDAQ:GT) PT at $17.23

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $17.23.

Several equities research analysts have weighed in on GT shares. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

Institutional Trading of Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently bought and sold shares of GT. Strategic Blueprint LLC purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at about $132,000. Hedges Asset Management LLC increased its position in shares of Goodyear Tire & Rubber by 54.2% in the third quarter. Hedges Asset Management LLC now owns 97,000 shares of the company’s stock valued at $858,000 after acquiring an additional 34,100 shares during the period. State of Alaska Department of Revenue increased its holdings in Goodyear Tire & Rubber by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock valued at $290,000 after purchasing an additional 2,245 shares during the period. Legacy Capital Group California Inc. increased its stake in shares of Goodyear Tire & Rubber by 115.3% during the third quarter. Legacy Capital Group California Inc. now owns 24,911 shares of the company’s stock valued at $220,000 after buying an additional 13,338 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Goodyear Tire & Rubber by 30.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 234,854 shares of the company’s stock valued at $2,078,000 after purchasing an additional 54,806 shares during the period. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 4.1 %

Shares of Goodyear Tire & Rubber stock opened at $8.24 on Friday. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $15.24. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $8.37 and its 200-day moving average is $10.37. The stock has a market cap of $2.35 billion, a P/E ratio of -6.70 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm posted ($0.34) EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts predict that Goodyear Tire & Rubber will post 1.06 earnings per share for the current fiscal year.

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 rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.