The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $13.78.

Several analysts have recently weighed in on GT shares. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Friday. Finally, TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price target on the stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $11.01 on Friday. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.26. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The company has a market cap of $3.14 billion, a P/E ratio of 45.88 and a beta of 1.42. The business’s 50 day moving average is $9.57 and its two-hundred day moving average is $9.35.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, equities analysts expect that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $39,626,000. Capula Management Ltd bought a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $330,000. Truist Financial Corp grew its stake in Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after buying an additional 1,115 shares in the last quarter. Franklin Resources Inc. increased its holdings in Goodyear Tire & Rubber by 65.9% in the 4th quarter. Franklin Resources Inc. now owns 224,124 shares of the company’s stock valued at $2,017,000 after buying an additional 88,993 shares during the period. Finally, Barclays PLC boosted its position in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after acquiring an additional 598,330 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.