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

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.85.

GT has been the subject of a number of recent analyst reports. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. JPMorgan Chase & Co. decreased their target price on 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. Morgan Stanley raised their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a report on Friday, November 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Finally, Zacks Research raised shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $10.22 on Tuesday. The company’s 50-day moving average price is $9.06 and its 200-day moving average price is $8.55. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 2.29. Goodyear Tire & Rubber has a 12-month low of $6.51 and a 12-month high of $12.03. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -1.68, a PEG ratio of 0.77 and a beta of 1.18.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GT. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,130,037 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of 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 buying an additional 2,796,332 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $109,988,000 after buying an additional 110,033 shares during the last quarter. American Century Companies Inc. boosted its stake in Goodyear Tire & Rubber by 7.0% in the third quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock worth $93,180,000 after buying an additional 816,703 shares in the last quarter. Finally, Greenvale Capital LLP bought a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $106,292,000. Institutional investors own 84.19% of the company’s stock.

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.