Analysts Set The Goodyear Tire & Rubber Company (NASDAQ:GT) PT at $17.23

The Goodyear Tire & Rubber Company (NASDAQ:GTGet Free Report) has been given an average rating of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.23.

GT has been the subject of a number of recent analyst reports. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Morgan Stanley initiated coverage on shares of Goodyear Tire & Rubber in a report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 target price for the company. Finally, StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

View Our Latest Stock Report on Goodyear Tire & Rubber

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $8.53 on Monday. The company has a market cap of $2.43 billion, a PE ratio of -3.77 and a beta of 1.69. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $15.24. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The company has a 50-day simple moving average of $8.55 and a 200-day simple moving average of $10.89.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, equities analysts anticipate that Goodyear Tire & Rubber will post 1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in Goodyear Tire & Rubber by 41.6% in the first quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock valued at $878,000 after acquiring an additional 18,790 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Goodyear Tire & Rubber by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after acquiring an additional 71,410 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Goodyear Tire & Rubber by 2,944.7% during the first quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock worth $21,600,000 after purchasing an additional 1,611,966 shares during the period. Edgestream Partners L.P. raised its holdings in shares of Goodyear Tire & Rubber by 1,011.8% during the second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock worth $7,197,000 after purchasing an additional 577,045 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Goodyear Tire & Rubber by 132.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 224,158 shares of the company’s stock worth $3,077,000 after purchasing an additional 127,610 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Company Profile

(Get Free Report

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.

Further Reading

Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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