Analysts Set The Goodyear Tire & Rubber Company (NASDAQ:GT) PT at $16.50

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned a consensus rating of “Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.50.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued a “hold” rating and issued a $16.00 target price on shares of The Goodyear Tire & Rubber in a research note on Friday, July 2nd. Zacks Investment Research upgraded The Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, May 19th.

GT traded down $0.18 on Tuesday, reaching $16.14. The stock had a trading volume of 3,128,551 shares, compared to its average volume of 4,000,834. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 27.83 and a beta of 2.16. The firm has a 50-day moving average of $15.91 and a 200-day moving average of $17.38. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 1.58. The Goodyear Tire & Rubber has a fifty-two week low of $7.28 and a fifty-two week high of $20.70.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.15. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.95 billion. The Goodyear Tire & Rubber had a return on equity of 8.80% and a net margin of 0.96%. The Goodyear Tire & Rubber’s quarterly revenue was up 85.6% compared to the same quarter last year. During the same period last year, the company posted ($1.87) earnings per share. Sell-side analysts anticipate that The Goodyear Tire & Rubber will post 1.15 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Column Capital Advisors LLC acquired a new stake in shares of The Goodyear Tire & Rubber in the second quarter valued at $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of The Goodyear Tire & Rubber during the 2nd quarter worth $31,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in The Goodyear Tire & Rubber in the 2nd quarter worth about $33,000. Exchange Traded Concepts LLC boosted its holdings in The Goodyear Tire & Rubber by 59.5% in the second quarter. Exchange Traded Concepts LLC now owns 1,983 shares of the company’s stock worth $34,000 after acquiring an additional 740 shares in the last quarter. Finally, Harbour Investments Inc. bought a new position in shares of The Goodyear Tire & Rubber in the first quarter valued at approximately $44,000. 80.95% of the stock is owned by institutional investors.

The Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufactures, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.

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Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

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