Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Up 6.8% – What’s Next?

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) rose 6.8% during mid-day trading on Thursday . The company traded as high as $7.21 and last traded at $7.1950. Approximately 3,867,638 shares were traded during trading, a decline of 55% from the average daily volume of 8,553,177 shares. The stock had previously closed at $6.74.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GT. 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Citigroup lowered their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.54.

Goodyear Tire & Rubber Trading Up 2.7%

The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -1.01 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 business’s 50-day simple moving average is $6.22 and its 200-day simple moving average is $7.41.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. Goodyear Tire & Rubber’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. On average, research analysts expect that The Goodyear Tire & Rubber Company will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

A number of institutional investors have recently bought and sold shares of the business. Focus Partners Wealth bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $25,000. EFG International AG bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its holdings in Goodyear Tire & Rubber by 656.0% in the first 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. Finally, Parallel Advisors LLC lifted its stake in Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after buying an additional 2,538 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.