Goodyear Tire & Rubber’s (GT) “Hold” Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a report released on Monday, Marketbeat Ratings reports. They currently have a $7.00 target price on the stock, down from their prior target price of $9.00.

GT has been the subject of several other reports. Zacks Research lowered Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Citigroup lowered their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Wall Street Zen lowered Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lowered their target price on Goodyear Tire & Rubber from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, TD Cowen lowered their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $8.54.

Goodyear Tire & Rubber Stock Down 0.9%

Shares of Goodyear Tire & Rubber stock opened at $5.81 on Monday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66. The firm has a market cap of $1.67 billion, a P/E ratio of -0.80, a P/E/G ratio of 0.93 and a beta of 1.17. Goodyear Tire & Rubber has a fifty-two week low of $5.73 and a fifty-two week high of $12.03. The business has a 50-day moving average price of $6.85 and a 200 day moving average price of $8.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.Goodyear Tire & Rubber’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, sell-side analysts forecast that Goodyear Tire & Rubber will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EFG International AG bought a new position in Goodyear Tire & Rubber during the 4th quarter valued at $26,000. Los Angeles Capital Management LLC bought a new position in Goodyear Tire & Rubber during the 4th quarter valued at $26,000. Focus Partners Wealth bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at $25,000. Hantz Financial Services Inc. boosted its stake in Goodyear Tire & Rubber by 384.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after purchasing an additional 4,198 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at $47,000. 84.19% of the stock is owned by institutional investors.

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.