Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $8.26

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.26.

Several analysts have recently commented on GT shares. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Citigroup lowered their price objective on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th.

Goodyear Tire & Rubber Trading Up 3.3%

Shares of GT opened at $6.35 on Friday. Goodyear Tire & Rubber has a 12-month low of $5.43 and a 12-month high of $10.62. The firm has a market capitalization of $1.83 billion, a P/E ratio of -0.72 and a beta of 1.12. The firm has a 50-day moving average price of $6.60 and a 200 day moving average price of $6.83. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts forecast that Goodyear Tire & Rubber will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its stake in Goodyear Tire & Rubber by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after buying an additional 1,011 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in shares of Goodyear Tire & Rubber by 1.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock valued at $657,000 after acquiring an additional 1,065 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Goodyear Tire & Rubber by 11.5% in the 4th quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock valued at $98,000 after acquiring an additional 1,152 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Goodyear Tire & Rubber by 1.0% in the 4th quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of Goodyear Tire & Rubber by 2.8% in the 4th quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock worth $496,000 after acquiring an additional 1,529 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

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.