Goodyear Tire & Rubber (NASDAQ:GT) PT Raised to $13.00

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) had its price objective upped by equities research analysts at Deutsche Bank Aktiengesellschaft from $10.00 to $13.00 in a report released on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential downside of 8.00% from the company’s current price.

GT has been the subject of several other research reports. Nomura downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Wednesday, May 17th. BNP Paribas raised shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $13.00 target price on the stock in a report on Monday, May 15th. Finally, StockNews.com began coverage on shares of Goodyear Tire & Rubber in a report on Thursday, May 18th. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.00.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock opened at $14.13 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.67 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 706.85 and a beta of 1.80. Goodyear Tire & Rubber has a 1-year low of $9.66 and a 1-year high of $15.69. The firm’s 50-day moving average price is $11.47 and its two-hundred day moving average price is $11.17.

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last released its quarterly earnings results on Friday, May 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Goodyear Tire & Rubber had a net margin of 0.02% and a return on equity of 3.44%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the company earned $0.37 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts predict that Goodyear Tire & Rubber will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Institutional investors have recently added to or reduced their stakes in the stock. Toroso Investments LLC bought a new stake in Goodyear Tire & Rubber in the first quarter worth $324,000. Ameriprise Financial Inc. lifted its position in shares of Goodyear Tire & Rubber by 25.1% during the first quarter. Ameriprise Financial Inc. now owns 885,516 shares of the company’s stock worth $9,758,000 after purchasing an additional 177,401 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new stake in shares of Goodyear Tire & Rubber in the first quarter valued at about $44,000. JPMorgan Chase & Co. raised its holdings in shares of Goodyear Tire & Rubber by 29.8% in the first quarter. JPMorgan Chase & Co. now owns 1,706,426 shares of the company’s stock valued at $18,805,000 after acquiring an additional 391,687 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Goodyear Tire & Rubber by 229.6% in the first quarter. Rockefeller Capital Management L.P. now owns 19,066 shares of the company’s stock valued at $209,000 after purchasing an additional 13,282 shares during the last quarter. 79.34% of the stock is owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

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Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.