Citigroup Issues Positive Forecast for Goodyear Tire & Rubber (NASDAQ:GT) Stock Price

Goodyear Tire & Rubber (NASDAQ:GT) had its price target upped by Citigroup from $9.00 to $10.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Morgan Stanley raised their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Zacks Research cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. cut their price target on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus price target of $10.98.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $9.34 on Thursday. The firm’s fifty day moving average price is $9.17 and its two-hundred day moving average price is $8.50. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.71. The company has a market cap of $2.67 billion, a P/E ratio of -1.56, a P/E/G ratio of 0.71 and a beta of 1.18. Goodyear Tire & Rubber has a one year low of $6.51 and a one year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $0.39 EPS. Goodyear Tire & Rubber’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently modified their holdings of GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Goodyear Tire & Rubber by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after buying an additional 7,453 shares during the last quarter. United Services Automobile Association bought a new position in shares of Goodyear Tire & Rubber during the 1st quarter valued at $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Goodyear Tire & Rubber by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock valued at $6,074,000 after purchasing an additional 15,064 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Goodyear Tire & Rubber in the 2nd quarter worth approximately $29,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Goodyear Tire & Rubber by 5.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,440 shares of the company’s stock valued at $482,000 after purchasing an additional 2,597 shares during the period. 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.