The Goodyear Tire & Rubber Company (GT) – What Are Analysts Thinking About This Stock?

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.06.

Several research firms have commented on GT. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Friday, August 7th. JPMorgan Chase & Co. cut their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Finally, Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th.

Goodyear Tire & Rubber Stock Up 0.9%

Goodyear Tire & Rubber stock opened at $4.42 on Friday. The company has a 50-day simple moving average of $5.51 and a 200-day simple moving average of $6.20. The firm has a market capitalization of $1.27 billion, a P/E ratio of -0.50 and a beta of 1.22. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.55 and a current ratio of 1.09. Goodyear Tire & Rubber has a one year low of $4.35 and a one year high of $10.62.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 14.37% and a negative return on equity of 2.95%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. As a group, equities analysts expect that Goodyear Tire & Rubber will post -0.46 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Several hedge funds have recently added to or reduced their stakes in GT. Nykredit A S acquired a new position in Goodyear Tire & Rubber during the 2nd quarter worth $27,000. Allworth Financial LP bought a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at about $33,000. Versant Capital Management Inc raised its stake in shares of Goodyear Tire & Rubber by 190.1% during the third quarter. Versant Capital Management Inc now owns 5,349 shares of the company’s stock valued at $27,000 after purchasing an additional 3,505 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 656.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after purchasing an additional 5,248 shares during the period. Finally, Magnolia Capital Advisors LLC acquired a new stake in Goodyear Tire & Rubber in the second quarter worth about $67,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company (NASDAQ: GT) is a global tire manufacturer headquartered in Akron, Ohio. Founded in 1898, the company develops, produces, markets and distributes tires for passenger vehicles, trucks, buses, aircraft, motorcycles, off-road vehicles and other applications.

Goodyear serves original-equipment and replacement markets through a portfolio of tire brands that includes Goodyear and Cooper, along with related products and services. Its offerings are sold through tire dealers, automotive retailers, distributors and other commercial channels, as well as to vehicle manufacturers.

The company operates across North America, Europe and other international markets.