The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $17.23 Average PT from Analysts

by · The Markets Daily

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Free Report) have earned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.23.

A number of equities research analysts have weighed in on the stock. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on shares of Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target for the company. Finally, StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

Get Our Latest Stock Report on Goodyear Tire & Rubber

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors have recently modified their holdings of GT. Family Firm Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. purchased a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $28,000. Mather Group LLC. raised its position in Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after purchasing an additional 2,580 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $33,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of GT stock opened at $8.53 on Monday. 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 firm’s 50-day moving average is $8.62 and its two-hundred day moving average is $10.94. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $15.24. The company has a market capitalization of $2.43 billion, a PE ratio of -3.77 and a beta of 1.70.

Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last issued its 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. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm earned ($0.34) earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts predict that Goodyear Tire & Rubber will post 1.06 earnings per share for the current year.

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.

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