The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of “Moderate Buy” from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.18.

A number of equities research analysts recently commented on the stock. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th.

Goodyear Tire & Rubber Trading Up 1.2 %

NASDAQ:GT opened at $9.04 on Friday. The company has a fifty day moving average of $9.17 and a 200 day moving average of $8.99. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.86. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $2.58 billion, a P/E ratio of 37.67 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. On average, research analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $46,000. Signaturefd LLC boosted its holdings in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $54,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.