The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Rating of “Reduce” by Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned an average recommendation of “Reduce” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.5429.

Several equities research analysts have commented on the company. TD Cowen dropped their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Finally, Citigroup dropped their target price on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently modified their holdings of GT. Invenomic Capital Management LP bought a new position in Goodyear Tire & Rubber in the third quarter worth approximately $13,753,000. Bastion Asset Management Inc. grew its position in shares of Goodyear Tire & Rubber by 72.9% during the 4th quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock valued at $8,076,000 after acquiring an additional 406,410 shares during the period. Brevan Howard Capital Management LP increased its stake in shares of Goodyear Tire & Rubber by 313.7% in the 3rd quarter. Brevan Howard Capital Management LP now owns 438,206 shares of the company’s stock worth $3,278,000 after purchasing an additional 332,294 shares in the last quarter. SG Americas Securities LLC raised its holdings in Goodyear Tire & Rubber by 113.5% in the 1st quarter. SG Americas Securities LLC now owns 1,447,677 shares of the company’s stock worth $9,598,000 after purchasing an additional 769,710 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Goodyear Tire & Rubber by 4.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,507,813 shares of the company’s stock worth $39,488,000 after purchasing an additional 189,493 shares during the period. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Up 2.2%

Shares of GT stock opened at $6.64 on Friday. The stock has a market capitalization of $1.91 billion, a PE ratio of -0.92 and a beta of 1.12. Goodyear Tire & Rubber has a 1-year low of $5.43 and a 1-year high of $11.65. The business has a 50-day moving average of $6.23 and a 200 day moving average of $7.48. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the company earned ($0.04) EPS. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Goodyear Tire & Rubber will post -0.24 earnings per share for the current 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.