JPMorgan Chase & Co. Lowers Goodyear Tire & Rubber (NASDAQ:GT) Price Target to $10.00

Goodyear Tire & Rubber (NASDAQ:GT) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 41.64% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Goodyear Tire & Rubber from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Zacks Research cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. TD Cowen reduced their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Citigroup upped their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.11.

Goodyear Tire & Rubber Stock Up 0.1%

GT stock opened at $7.06 on Thursday. Goodyear Tire & Rubber has a fifty-two week low of $6.14 and a fifty-two week high of $12.03. The business’s 50-day moving average is $7.29 and its two-hundred day moving average is $8.04. 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 company has a market cap of $2.02 billion, a price-to-earnings ratio of -1.18, a P/E/G ratio of 0.53 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, February 9th. The company reported $0.39 earnings per share 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 firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Goodyear Tire & Rubber will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Hedge funds have recently made changes to their positions in the business. EFG International AG bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $26,000. Los Angeles Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $26,000. Focus Partners Wealth bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth about $25,000. Hantz Financial Services Inc. boosted its stake in shares of Goodyear Tire & Rubber by 384.8% in 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 period. Finally, Cloud Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth about $47,000. 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.