Goodyear Tire & Rubber (NASDAQ:GT) has been assigned a $15.00 price target by analysts at Morgan Stanley in a research note issued to investors on Thursday, TipRanks reports. The firm presently has a “hold” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 4.64% from the stock’s previous close.
GT has been the topic of a number of other reports. Longbow Research reissued a “sell” rating and issued a $14.00 price target on shares of Goodyear Tire & Rubber in a report on Thursday, March 21st. BidaskClub raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Zacks Investment Research downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 5th. Argus downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Monday, February 11th. Finally, ValuEngine downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $21.50.
Shares of NASDAQ GT traded down $0.35 during trading on Thursday, hitting $15.73. The stock had a trading volume of 4,773,836 shares, compared to its average volume of 4,605,704. Goodyear Tire & Rubber has a 12 month low of $15.71 and a 12 month high of $26.43. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 0.70. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 6.78, a PEG ratio of -1.66 and a beta of 1.51.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. On average, research analysts anticipate that Goodyear Tire & Rubber will post 2.06 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Investors Research Corp purchased a new stake in shares of Goodyear Tire & Rubber in the first quarter worth about $25,000. Valeo Financial Advisors LLC purchased a new stake in shares of Goodyear Tire & Rubber in the first quarter worth about $27,000. NuWave Investment Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 3,169.2% in the first quarter. NuWave Investment Management LLC now owns 1,700 shares of the company’s stock worth $31,000 after buying an additional 1,648 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth about $35,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth about $43,000. 85.51% of the stock is currently owned by institutional investors and hedge funds.
Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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