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

Deutsche Bank Aktiengesellschaft reaffirmed their hold rating on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a research report released on Friday, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has a $10.00 price target on the stock.

Several other brokerages have also weighed in on GT. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.30.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $8.62 on Friday. The stock has a market capitalization of $2.46 billion, a P/E ratio of -8.29 and a beta of 1.77. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $14.97. The company’s fifty day moving average is $9.32 and its two-hundred day moving average is $9.61.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Goodyear Tire & Rubber will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of large investors have recently bought and sold shares of the stock. Fidelity D & D Bancorp Inc. grew its holdings in shares of Goodyear Tire & Rubber by 3.2% during the third quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock worth $283,000 after buying an additional 1,000 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Goodyear Tire & Rubber by 4.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock worth $306,000 after acquiring an additional 1,434 shares during the period. Texas Permanent School Fund Corp grew its stake in Goodyear Tire & Rubber by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after acquiring an additional 1,475 shares during the period. Arizona State Retirement System raised its holdings in Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock valued at $903,000 after acquiring an additional 1,621 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. lifted its stake in shares of Goodyear Tire & Rubber by 6.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 38,050 shares of the company’s stock worth $336,000 after purchasing an additional 2,195 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.