The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $8.54 Average Price Target from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $8.5429.

GT has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GT. EFG International AG bought a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $26,000. Los Angeles Capital Management LLC bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $26,000. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position 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 worth $40,000 after acquiring an additional 5,248 shares during the period. Finally, Parallel Advisors LLC boosted its position in Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after acquiring an additional 2,538 shares during the period. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $7.03 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66. The firm’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $7.26. Goodyear Tire & Rubber has a 52-week low of $5.43 and a 52-week high of $10.62. The stock has a market capitalization of $2.02 billion, a P/E ratio of -0.97 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business’s revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, sell-side analysts forecast that Goodyear Tire & Rubber will post -0.26 earnings per share for the current 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.