The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Rating of “Hold” by Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.5429.

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, TD Cowen cut their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $25,000. EFG International AG purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 656.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after acquiring an additional 5,248 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after acquiring an additional 2,538 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 1.4%

Shares of GT opened at $7.11 on Tuesday. Goodyear Tire & Rubber has a fifty-two week low of $5.43 and a fifty-two week high of $11.05. The company has a market capitalization of $2.04 billion, a PE ratio of -0.98 and a beta of 1.12. The stock has a fifty day moving average of $6.39 and a two-hundred day moving average of $7.33. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. As a group, analysts forecast that Goodyear Tire & Rubber will post -0.26 EPS 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.