The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Three research 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 12 month price target among brokers that have covered the stock in the last year is $12.80.

A number of brokerages have weighed in on GT. BNP Paribas cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Monday. Wall Street Zen cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Finally, BNP Paribas Exane reiterated a “neutral” rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a report on Friday.

Institutional Trading of Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of GT. LPL Financial LLC increased its holdings in Goodyear Tire & Rubber by 1.5% in the 4th quarter. LPL Financial LLC now owns 216,766 shares of the company’s stock valued at $1,951,000 after acquiring an additional 3,123 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Goodyear Tire & Rubber by 65.9% in the 4th quarter. Franklin Resources Inc. now owns 224,124 shares of the company’s stock worth $2,017,000 after buying an additional 88,993 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth $157,000. Russell Investments Group Ltd. grew its stake in shares of Goodyear Tire & Rubber by 20.7% in the 4th quarter. Russell Investments Group Ltd. now owns 331,902 shares of the company’s stock worth $2,987,000 after buying an additional 57,028 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Goodyear Tire & Rubber by 13.7% in the 4th quarter. Invesco Ltd. now owns 2,261,513 shares of the company’s stock worth $20,354,000 after buying an additional 272,771 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $8.32 on Tuesday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 0.26 and a beta of 1.37. The company has a 50-day moving average price of $10.72 and a 200-day moving average price of $10.13. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. Goodyear Tire & Rubber’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

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.