The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Consensus Rating of “Hold” from Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GTGet Rating) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $17.33.

Several brokerages have issued reports on GT. Deutsche Bank Aktiengesellschaft downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $19.00 to $15.00 in a research report on Monday, July 18th. TheStreet downgraded shares of Goodyear Tire & Rubber from a “b-” rating to a “c” rating in a research report on Wednesday, May 18th. Citigroup raised their price objective on shares of Goodyear Tire & Rubber to $16.00 in a research report on Monday, August 15th. Finally, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th.

Goodyear Tire & Rubber Trading Down 1.3 %

Shares of NASDAQ:GT opened at $13.26 on Thursday. Goodyear Tire & Rubber has a 52 week low of $10.33 and a 52 week high of $24.89. The company’s 50 day moving average is $13.09 and its two-hundred day moving average is $12.91. The company has a current ratio of 1.30, a quick ratio of 0.68 and a debt-to-equity ratio of 1.42. The company has a market cap of $3.75 billion, a PE ratio of 4.02 and a beta of 1.80.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $4.98 billion. Goodyear Tire & Rubber had a net margin of 4.71% and a return on equity of 11.87%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. Equities analysts predict that Goodyear Tire & Rubber will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC acquired a new position in Goodyear Tire & Rubber during the second quarter worth about $27,000. First Quadrant LLC CA acquired a new position in Goodyear Tire & Rubber during the first quarter worth about $30,000. Ancora Advisors LLC raised its position in Goodyear Tire & Rubber by 142.9% during the first quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Goodyear Tire & Rubber during the second quarter worth about $34,000. Finally, CWM LLC grew its holdings in shares of Goodyear Tire & Rubber by 43.1% during the first quarter. CWM LLC now owns 2,433 shares of the company’s stock worth $35,000 after buying an additional 733 shares in the last quarter. Institutional investors and hedge funds own 80.88% of the company’s stock.

About Goodyear Tire & Rubber

(Get Rating)

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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

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