Analysts Set The Goodyear Tire & Rubber Company (NASDAQ:GT) PT at $10.85

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned an average recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have assigned a strong 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 $10.85.

Several brokerages recently issued reports on GT. Zacks Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Solstein Capital LLC acquired a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter worth about $26,000. Ameritas Advisory Services LLC bought a new position in Goodyear Tire & Rubber in the 2nd quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after buying an additional 2,726 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $31,000. Finally, Focus Partners Wealth acquired a new position in shares of Goodyear Tire & Rubber during the third quarter worth approximately $25,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

GT stock opened at $9.23 on Friday. The stock’s 50 day moving average is $8.43 and its two-hundred day moving average is $8.72. Goodyear Tire & Rubber has a 52-week low of $6.51 and a 52-week high of $12.03. The company has a market capitalization of $2.64 billion, a PE ratio of -1.52, a P/E/G ratio of 0.90 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 2.29.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.67 billion. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. Analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

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.