The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Average Recommendation of “Reduce” by Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received an average rating of “Reduce” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.5429.

Several equities analysts recently weighed in on GT shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, TD Cowen cut their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after buying an additional 1,011 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of Goodyear Tire & Rubber by 1.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock worth $657,000 after buying an additional 1,065 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Goodyear Tire & Rubber by 11.5% in the 4th quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock worth $98,000 after buying an additional 1,152 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Goodyear Tire & Rubber by 1.0% in the 4th quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock worth $1,153,000 after buying an additional 1,282 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of Goodyear Tire & Rubber by 2.8% in the 4th quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock worth $496,000 after buying an additional 1,529 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $5.71 on Monday. The firm has a fifty day moving average price of $6.47 and a 200-day moving average price of $7.84. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The stock has a market cap of $1.64 billion, a PE ratio of -0.79 and a beta of 1.12. Goodyear Tire & Rubber has a 1 year low of $5.43 and a 1 year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. Equities analysts anticipate that Goodyear Tire & Rubber will post -0.32 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

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.