The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Rating of “Hold” by Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.85.

A number of analysts recently weighed in on GT shares. Morgan Stanley increased their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research note on Friday, November 28th. HSBC reaffirmed a “hold” rating and issued a $9.50 target price (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. Citigroup lowered their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. JPMorgan Chase & Co. reduced their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Finally, Hsbc Global Res cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock valued at $35,122,000 after acquiring an additional 62,499 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Goodyear Tire & Rubber during the first quarter worth about $501,000. Nuveen LLC acquired a new stake in Goodyear Tire & Rubber in the first quarter valued at about $20,422,000. Kovitz Investment Group Partners LLC acquired a new stake in Goodyear Tire & Rubber in the first quarter valued at about $3,682,000. Finally, Fox Run Management L.L.C. purchased a new stake in Goodyear Tire & Rubber in the 1st quarter valued at approximately $239,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.80 on Monday. Goodyear Tire & Rubber has a 12 month low of $6.51 and a 12 month high of $12.03. The firm has a market capitalization of $2.52 billion, a P/E ratio of -1.45, a P/E/G ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71. The company’s fifty day moving average price is $7.68 and its 200 day moving average price is $9.00.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company posted $0.37 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal 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.