An issue of Goodyear Tire & Rubber Co (NASDAQ:GT) bonds fell 0.8% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 5.125% coupon and will mature on November 15, 2023. The bonds in the issue are now trading at $102.99 and were trading at $104.63 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

A number of research analysts recently commented on GT shares. Guggenheim downgraded Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Wednesday, November 1st. KeyCorp restated a “buy” rating and set a $37.00 price objective on shares of Goodyear Tire & Rubber in a research note on Thursday, October 12th. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research note on Monday, October 9th. Jefferies Group restated a “buy” rating and set a $36.00 price objective on shares of Goodyear Tire & Rubber in a research note on Thursday, October 12th. Finally, Citigroup cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $38.00 to $36.00 in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $37.70.

Goodyear Tire & Rubber Co (NASDAQ:GT) traded up $0.12 during trading hours on Thursday, hitting $33.59. The stock had a trading volume of 1,970,000 shares, compared to its average volume of 2,700,000. Goodyear Tire & Rubber Co has a 12 month low of $28.81 and a 12 month high of $37.20. The company has a market capitalization of $8,270.00, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.71 and a beta of 1.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.37.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities analysts expect that Goodyear Tire & Rubber Co will post 2.88 EPS for the current fiscal year.

In other news, SVP Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the sale, the senior vice president now owns 51,848 shares in the company, valued at $1,665,357.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 143.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock valued at $152,000 after buying an additional 2,682 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at $160,000. Pacer Advisors Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 8.4% in the second quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock valued at $206,000 after buying an additional 457 shares during the period. Westover Capital Advisors LLC lifted its holdings in shares of Goodyear Tire & Rubber by 5.7% in the second quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock valued at $215,000 after buying an additional 330 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at $205,000. Institutional investors and hedge funds own 94.64% of the company’s stock.

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About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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