Goodyear Tire & Rubber (NASDAQ:GT) Given New $14.00 Price Target at JPMorgan Chase & Co.

Goodyear Tire & Rubber (NASDAQ:GT) had its price target cut by JPMorgan Chase & Co. from $15.00 to $14.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

GT has been the topic of a number of other reports. HSBC reaffirmed a “hold” rating and issued a $9.50 price objective (down from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Hsbc Global Res lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Finally, BNP Paribas Exane reissued a “neutral” rating and issued a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Hold” and an average price target of $11.50.

Goodyear Tire & Rubber Price Performance

GT stock opened at $7.04 on Monday. The company has a market capitalization of $2.01 billion, a P/E ratio of 4.96, a PEG ratio of 1.85 and a beta of 1.28. The company has a fifty day moving average price of $8.03 and a 200-day moving average price of $9.72. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. Goodyear Tire & Rubber has a 52-week low of $6.51 and a 52-week high of $12.03.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Solstein Capital LLC purchased a new stake in Goodyear Tire & Rubber during the second quarter valued at about $26,000. Ameritas Advisory Services LLC bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Goodyear Tire & Rubber by 3,894.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after buying an additional 2,726 shares in the last quarter. GAMMA Investing LLC lifted its position in Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after buying an additional 1,674 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Goodyear Tire & Rubber in the 2nd quarter worth approximately $31,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

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.