The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Rating of “Hold” from Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.85.

Several research analysts have issued reports on GT shares. Morgan Stanley increased their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. lowered their price target on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Citigroup reduced their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Chelsea Counsel Co. purchased a new position in shares of Goodyear Tire & Rubber in the 2nd quarter worth about $1,225,000. Strs Ohio acquired a new stake in Goodyear Tire & Rubber during the 1st quarter worth approximately $914,000. Econ Financial Services Corp acquired a new stake in Goodyear Tire & Rubber during the 2nd quarter worth approximately $923,000. EVR Research LP purchased a new position in Goodyear Tire & Rubber in the second quarter valued at approximately $10,370,000. Finally, JPMorgan Chase & Co. lifted its position in Goodyear Tire & Rubber by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock valued at $21,171,000 after buying an additional 247,609 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 0.8%

GT stock opened at $9.16 on Friday. The stock has a market capitalization of $2.62 billion, a PE ratio of -1.51, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18. The company has a fifty day moving average of $8.38 and a 200-day moving average of $8.75. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.71 and a current ratio of 1.27. Goodyear Tire & Rubber has a one year low of $6.51 and a one year high of $12.03.

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

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.