The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $10.85 Consensus Price Target from Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.85.

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Morgan Stanley boosted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Citigroup cut their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. JPMorgan Chase & Co. dropped their target price on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th.

Goodyear Tire & Rubber Trading Up 3.3%

NASDAQ:GT opened at $9.32 on Friday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -1.53, a PEG ratio of 0.88 and a beta of 1.18. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 2.29. The company’s 50 day moving average price is $8.55 and its 200-day moving average price is $8.70. Goodyear Tire & Rubber has a 52 week low of $6.51 and a 52 week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.12. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities research analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Goodyear Tire & Rubber by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 27,950,476 shares of the company’s stock worth $209,070,000 after buying an additional 1,130,037 shares during the period. Wellington Management Group LLP increased its position in Goodyear Tire & Rubber by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock valued at $197,333,000 after purchasing an additional 2,796,332 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Goodyear Tire & Rubber by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,704,063 shares of the company’s stock valued at $109,988,000 after purchasing an additional 110,033 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Goodyear Tire & Rubber by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock worth $93,180,000 after purchasing an additional 816,703 shares during the period. Finally, Greenvale Capital LLP bought a new position in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $106,292,000. 84.19% of the stock is currently owned by institutional investors.

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.