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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been given an average rating of “Hold” by the five research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.98.

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $9.79 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The firm’s 50-day simple moving average is $9.04 and its 200 day simple moving average is $8.92. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.86. The firm has a market capitalization of $2.79 billion, a PE ratio of 40.79 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. On average, equities research analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP grew its position in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $46,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after purchasing an additional 1,997 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $54,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

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.