The Goodyear Tire & Rubber Company (NASDAQ:GT) Stock Has Consensus Price Target of $8.06

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned a consensus recommendation of “Reduce” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.46.

GT has been the topic of a number of research reports. Zacks Research lowered Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Wednesday, November 4th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $8.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Friday, October 2nd.

Institutional Trading of Goodyear Tire & Rubber

A number of large investors have recently modified their holdings of GT. WINTON GROUP Ltd acquired a new position in Goodyear Tire & Rubber during the 2nd quarter worth $1,560,000. Bank of America Corp DE purchased a new stake in Goodyear Tire & Rubber during the 2nd quarter worth about $17,313,000. Canada Pension Plan Investment Board acquired a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at about $78,278,000. Cibc World Market Inc. acquired a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at about $18,676,000. Finally, Legal & General Group Plc purchased a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at about $3,050,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $4.02 on Thursday. The company’s fifty day moving average price is $4.82 and its 200-day moving average price is $6.47. The firm has a market capitalization of $1.16 billion, a PE ratio of -1.98 and a beta of 1.22. Goodyear Tire & Rubber has a 1-year low of $3.85 and a 1-year high of $10.62. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.12 and a quick ratio of 0.59.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, November 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). Goodyear Tire & Rubber had a negative return on equity of 6.69% and a negative net margin of 3.33%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Goodyear Tire & Rubber will post -1.20 EPS for the current year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a global manufacturer of tires and related products and services. Founded in Akron, Ohio, in 1898, the company makes tires for passenger and light trucks, commercial vehicles, aircraft, and off-road equipment, as well as for original-equipment and replacement markets. Goodyear sells products under brands including Goodyear and Cooper. Its tire-related offerings also include retreading, vehicle and fleet services, and solutions for commercial customers. The company serves customers across markets around the world and is headquartered in Akron, Ohio.