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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.85.

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Zacks Research raised shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Morgan Stanley lifted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a report on Friday, November 28th. JPMorgan Chase & Co. lowered their price target on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of GT. Focus Partners Wealth purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at approximately $25,000. Solstein Capital LLC purchased a new stake in Goodyear Tire & Rubber during the 2nd quarter worth $26,000. Ameritas Advisory Services LLC purchased a new stake in Goodyear Tire & Rubber during the 2nd quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in Goodyear Tire & Rubber by 3,894.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock worth $29,000 after buying an additional 2,726 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Goodyear Tire & Rubber in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 0.9%

Shares of GT opened at $9.33 on Tuesday. Goodyear Tire & Rubber has a twelve month low of $6.51 and a twelve month high of $12.03. The firm has a market capitalization of $2.67 billion, a P/E ratio of -1.53, a price-to-earnings-growth ratio of 0.71 and a beta of 1.18. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 2.29. The stock’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $8.53.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.67 billion. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.