Goodyear Tire & Rubber (GT) Cut to “C+” at TheStreet

Goodyear Tire & Rubber (NASDAQ:GT) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Thursday.

A number of other equities analysts also recently issued reports on the stock. Guggenheim set a $32.00 price objective on shares of Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Friday. Longbow Research began coverage on shares of Goodyear Tire & Rubber in a research note on Wednesday, January 31st. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Monday, January 29th. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Finally, ValuEngine upgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $37.30.

Goodyear Tire & Rubber (NASDAQ GT) opened at $29.99 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.21 and a quick ratio of 0.76. The company has a market cap of $7,390.19, a PE ratio of 22.38, a price-to-earnings-growth ratio of 0.67 and a beta of 1.60. Goodyear Tire & Rubber has a one year low of $28.81 and a one year high of $37.20.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a net margin of 2.25% and a return on equity of 15.70%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. sell-side analysts anticipate that Goodyear Tire & Rubber will post 3.68 earnings per share for the current fiscal year.

In related news, SVP Jean Claude Kihn sold 7,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $32.12, for a total transaction of $240,900.00. Following the completion of the sale, the senior vice president now owns 51,848 shares of the company’s stock, valued at $1,665,357.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Goodyear Tire & Rubber by 143.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after acquiring an additional 2,682 shares during the period. Shell Asset Management Co. increased its stake in shares of Goodyear Tire & Rubber by 100.3% in the third quarter. Shell Asset Management Co. now owns 98,801 shares of the company’s stock worth $2,231,000 after acquiring an additional 49,484 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Goodyear Tire & Rubber by 44.9% in the third quarter. Canada Pension Plan Investment Board now owns 159,759 shares of the company’s stock worth $5,312,000 after acquiring an additional 49,500 shares during the period. Psagot Investment House Ltd. increased its stake in shares of Goodyear Tire & Rubber by 311.5% in the third quarter. Psagot Investment House Ltd. now owns 10,700 shares of the company’s stock worth $356,000 after acquiring an additional 8,100 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Goodyear Tire & Rubber by 15.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 146,118 shares of the company’s stock worth $4,858,000 after acquiring an additional 19,322 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

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About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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