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

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been assigned a consensus recommendation of “Reduce” from the nine analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.5429.

GT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. TD Cowen lowered their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at $25,000. EFG International AG acquired a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $26,000. Hantz Financial Services Inc. lifted its holdings in Goodyear Tire & Rubber by 384.8% during 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 last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after purchasing an additional 5,248 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 6.8%

NASDAQ:GT opened at $6.40 on Monday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -0.88 and a beta of 1.12. Goodyear Tire & Rubber has a twelve month low of $5.43 and a twelve month high of $11.79. The stock’s 50 day moving average price is $6.42 and its two-hundred day moving average price is $7.78. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. Equities research analysts expect that Goodyear Tire & Rubber will post -0.27 earnings per share for the current fiscal year.

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.