The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $13.78 Consensus Target Price from Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.78.

A number of brokerages have recently issued reports on GT. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, March 31st. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, February 18th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Finally, TD Cowen started coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 target price on the stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in shares of Goodyear Tire & Rubber by 3.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company’s stock valued at $266,000 after acquiring an additional 932 shares during the period. Truist Financial Corp increased its holdings in Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after purchasing an additional 1,115 shares in the last quarter. Amalgamated Bank raised its position in Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock valued at $1,147,000 after purchasing an additional 1,156 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Goodyear Tire & Rubber by 11.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Barnett & Company Inc. boosted its position in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.7 %

GT stock opened at $10.96 on Friday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 45.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The business’s 50-day moving average is $9.64 and its two-hundred day moving average is $9.38. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. As a group, analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.