Goodyear Tire & Rubber (NASDAQ:GT) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Goodyear Tire & Rubber (NASDAQ:GT) from a buy rating to a hold rating in a research report released on Thursday.

GT has been the subject of several other reports. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Monday, March 31st. Finally, TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Down 0.2 %

Goodyear Tire & Rubber stock opened at $10.94 on Thursday. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 45.59 and a beta of 1.49. The stock’s fifty day moving average is $9.49 and its two-hundred day moving average is $9.26. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. Analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently modified their holdings of GT. Truist Financial Corp raised its holdings in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after purchasing an additional 1,115 shares during the period. Amalgamated Bank raised its holdings 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 buying an additional 1,156 shares during the period. Sanctuary Advisors LLC lifted its position in Goodyear Tire & Rubber by 11.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock valued at $110,000 after buying an additional 1,209 shares in the last quarter. Barnett & Company Inc. grew its stake in Goodyear Tire & Rubber by 1.4% during 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. Finally, Harbour Investments Inc. increased its position in shares of Goodyear Tire & Rubber by 19.0% in the fourth quarter. Harbour Investments Inc. now owns 8,754 shares of the company’s stock worth $79,000 after acquiring an additional 1,399 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

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.