Goodyear Tire & Rubber (NASDAQ:GT) Sets New 1-Year Low – Here’s What Happened

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price hit a new 52-week low on Friday . The stock traded as low as $5.35 and last traded at $5.37, with a volume of 13683749 shares trading hands. The stock had previously closed at $5.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. lifted their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus price target of $8.26.

Goodyear Tire & Rubber Stock Performance

The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -0.61 and a beta of 1.10. The company has a quick ratio of 0.55, a current ratio of 1.09 and a debt-to-equity ratio of 1.92. The firm has a fifty day moving average of $6.53 and a 200-day moving average of $6.61.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post -0.43 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of hedge funds have recently made changes to their positions in the business. Focus Partners Wealth acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter worth $25,000. EFG International AG acquired a new stake in Goodyear Tire & Rubber in the 4th quarter worth approximately $26,000. Los Angeles Capital Management LLC acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth $26,000. Nykredit A S bought a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $27,000. Finally, Allworth Financial LP bought a new position in Goodyear Tire & Rubber during the second quarter valued at about $33,000. Institutional investors 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.