Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $17.23

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $17.23.

Several research analysts have weighed in on the company. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

Goodyear Tire & Rubber Stock Down 1.8 %

GT stock opened at $8.01 on Friday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -3.54 and a beta of 1.69. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $15.24. The business has a 50 day moving average price of $8.34 and a two-hundred day moving average price of $10.30. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Analysts anticipate that Goodyear Tire & Rubber will post 1.06 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several large investors have recently bought and sold shares of GT. Tidal Investments LLC boosted its stake in shares of Goodyear Tire & Rubber by 41.6% in the 1st quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock valued at $878,000 after purchasing an additional 18,790 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Goodyear Tire & Rubber by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after buying an additional 71,410 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Goodyear Tire & Rubber by 2,944.7% during the first quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock worth $21,600,000 after buying an additional 1,611,966 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Goodyear Tire & Rubber by 1,011.8% during the second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock worth $7,197,000 after buying an additional 577,045 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Goodyear Tire & Rubber by 132.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 224,158 shares of the company’s stock valued at $3,077,000 after acquiring an additional 127,610 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.