Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) PT at $10.30

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.30.

Several equities research analysts have recently weighed in on the company. Zacks Research cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Citigroup increased their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Morgan Stanley increased 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 report on Friday, November 28th.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several large investors have recently modified their holdings of the company. EFG International AG acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth about $26,000. Focus Partners Wealth bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth about $25,000. Hantz Financial Services Inc. lifted its stake in shares of Goodyear Tire & Rubber by 384.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after purchasing an additional 4,198 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $47,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $6.44 on Wednesday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -1.08, a P/E/G ratio of 0.28 and a beta of 1.12. Goodyear Tire & Rubber has a twelve month low of $6.14 and a twelve month high of $12.03. The company’s fifty day moving average is $8.39 and its 200 day moving average is $8.21. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.57.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. Sell-side analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Goodyear Tire & Rubber Company Profile

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.