Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $8.26

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.26.

Several research analysts have recently commented on GT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Friday, August 7th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Citigroup dropped their price target on shares of 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.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several large investors have recently bought and sold shares of GT. EFG International AG purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber in the third quarter valued at approximately $25,000. Nykredit A S acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at approximately $27,000. Finally, Allworth Financial LP purchased a new position in Goodyear Tire & Rubber in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Up 1.0%

Shares of NASDAQ GT opened at $6.26 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $1.80 billion, a PE ratio of -0.71 and a beta of 1.12. Goodyear Tire & Rubber has a twelve month low of $5.43 and a twelve month high of $10.62. The stock has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.87.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.02. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.19 billion. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.Goodyear Tire & Rubber’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, equities analysts forecast that Goodyear Tire & Rubber will post -0.43 earnings per share 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.