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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received an average recommendation of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.3571.

Several research analysts recently commented on GT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Wednesday, November 19th. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. HSBC restated a “hold” rating and set a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. Finally, Hsbc Global Res lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th.

Institutional Trading of Goodyear Tire & Rubber

Large investors have recently added to or reduced their stakes in the stock. Solstein Capital LLC bought a new position in Goodyear Tire & Rubber in the 2nd quarter worth $26,000. Ameritas Advisory Services LLC bought a new position in Goodyear Tire & Rubber in the second quarter worth about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in Goodyear Tire & Rubber by 3,894.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock worth $29,000 after buying an additional 2,726 shares during the period. FNY Investment Advisers LLC purchased a new stake in Goodyear Tire & Rubber in the second quarter worth about $31,000. Finally, Focus Partners Wealth bought a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at approximately $25,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Up 0.5%

NASDAQ GT opened at $8.14 on Thursday. The firm has a market cap of $2.33 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. Goodyear Tire & Rubber has a 1-year low of $6.51 and a 1-year high of $12.03. The stock has a 50-day moving average of $7.52 and a 200-day moving average of $9.24. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.12. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company earned $0.37 EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.