Goodyear Tire & Rubber (NASDAQ:GT) Sets New 52-Week Low at $9.77

The Goodyear Tire & Rubber Company (NASDAQ:GTGet Rating) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.77 and last traded at $10.21, with a volume of 81864 shares changing hands. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft decreased their target price on Goodyear Tire & Rubber from $14.00 to $10.00 in a research note on Wednesday, November 2nd. Citigroup decreased their target price on Goodyear Tire & Rubber from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 2nd. Finally, StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Hold” and an average target price of $16.19.

Goodyear Tire & Rubber Stock Performance

The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 3.57 and a beta of 1.92. The company has a quick ratio of 0.68, a current ratio of 1.33 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average price of $11.73 and a 200-day moving average price of $12.23.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last released its earnings results on Monday, October 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.21). The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.34 billion. Goodyear Tire & Rubber had a net margin of 4.19% and a return on equity of 9.74%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Goodyear Tire & Rubber by 7.6% during the first quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock worth $511,113,000 after purchasing an additional 2,528,942 shares in the last quarter. Vanguard Group Inc. boosted its position in Goodyear Tire & Rubber by 1.6% during the first quarter. Vanguard Group Inc. now owns 28,349,435 shares of the company’s stock worth $405,113,000 after purchasing an additional 437,114 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Goodyear Tire & Rubber by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 13,898,842 shares of the company’s stock worth $140,245,000 after purchasing an additional 80,358 shares in the last quarter. LSV Asset Management boosted its position in Goodyear Tire & Rubber by 0.4% during the third quarter. LSV Asset Management now owns 9,577,774 shares of the company’s stock worth $96,640,000 after purchasing an additional 40,882 shares in the last quarter. Finally, State Street Corp boosted its position in Goodyear Tire & Rubber by 7.0% during the first quarter. State Street Corp now owns 9,300,087 shares of the company’s stock worth $132,898,000 after purchasing an additional 605,665 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.

See Also

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.