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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned an average recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.5429.

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Finally, TD Cowen lowered their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th.

Goodyear Tire & Rubber Stock Down 1.8%

Shares of GT stock opened at $6.95 on Tuesday. Goodyear Tire & Rubber has a fifty-two week low of $5.43 and a fifty-two week high of $10.62. The firm has a market capitalization of $2.00 billion, a PE ratio of -0.96 and a beta of 1.12. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The stock’s 50-day simple moving average is $6.51 and its 200-day simple moving average is $7.29.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities analysts expect that Goodyear Tire & Rubber will post -0.26 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

A number of hedge funds have recently modified their holdings of GT. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber during the third quarter worth about $25,000. EFG International AG acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Goodyear Tire & Rubber by 656.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after purchasing an additional 5,248 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after purchasing an additional 2,538 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

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.