Goodyear Tire & Rubber (NASDAQ:GT) Given New $9.00 Price Target at Deutsche Bank Aktiengesellschaft

Goodyear Tire & Rubber (NASDAQ:GT) had its target price lowered by Deutsche Bank Aktiengesellschaft from $12.00 to $9.00 in a report released on Thursday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other research firms have also recently commented on GT. Zacks Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. TD Cowen decreased their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Finally, Citigroup increased their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.69.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $6.59 on Thursday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.54 and a current ratio of 1.06. The firm’s 50 day moving average price is $7.61 and its 200-day moving average price is $8.05. Goodyear Tire & Rubber has a 52-week low of $6.14 and a 52-week high of $12.03. The company has a market cap of $1.89 billion, a PE ratio of -1.10, a P/E/G ratio of 0.29 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in Goodyear Tire & Rubber in the third quarter valued at $25,000. EFG International AG acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth about $26,000. Los Angeles Capital Management LLC acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth about $26,000. Hantz Financial Services Inc. boosted its position in Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after acquiring an additional 4,198 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in Goodyear Tire & Rubber during the third quarter worth about $47,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

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.