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

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $10.8286.

Several research firms have issued reports on GT. Zacks Research cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Citigroup increased their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Morgan Stanley boosted their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a report on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $1,567,000 after buying an additional 7,453 shares during the last quarter. United Services Automobile Association purchased a new position in Goodyear Tire & Rubber in the 1st quarter valued at approximately $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Goodyear Tire & Rubber by 2.3% in 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 worth $6,074,000 after buying an additional 15,064 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $1,755,000. Finally, Nisa Investment Advisors LLC increased its position in Goodyear Tire & Rubber by 5.3% during the second quarter. Nisa Investment Advisors LLC now owns 30,303 shares of the company’s stock worth $314,000 after buying an additional 1,537 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $8.25 on Friday. The business’s 50 day moving average price is $9.18 and its 200-day moving average price is $8.42. The firm has a market capitalization of $2.36 billion, a PE ratio of -1.38, a P/E/G ratio of 0.36 and a beta of 1.18. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.54. Goodyear Tire & Rubber has a 1 year low of $6.51 and a 1 year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released 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). The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. As a group, equities research analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

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.