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

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.85.

A number of brokerages recently issued reports on GT. Zacks Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Citigroup decreased their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, Morgan Stanley lifted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th.

Goodyear Tire & Rubber Trading Up 3.1%

Shares of Goodyear Tire & Rubber stock opened at $10.54 on Tuesday. Goodyear Tire & Rubber has a 1-year low of $6.51 and a 1-year high of $12.03. The company’s fifty day simple moving average is $9.10 and its 200-day simple moving average is $8.52. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71. The stock has a market capitalization of $3.02 billion, a PE ratio of -1.73, a P/E/G ratio of 0.79 and a beta of 1.18.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors have recently made changes to their positions in the business. Focus Partners Wealth purchased a new position in Goodyear Tire & Rubber in the 3rd quarter worth approximately $25,000. Solstein Capital LLC bought a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC purchased a new position in shares of Goodyear Tire & Rubber in the second quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Goodyear Tire & Rubber during the second quarter worth $31,000. 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.