Deutsche Bank Aktiengesellschaft Cuts Goodyear Tire & Rubber (NASDAQ:GT) Price Target to $9.00

Goodyear Tire & Rubber (NASDAQ:GT) had its price target decreased by Deutsche Bank Aktiengesellschaft from $12.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. TD Cowen lowered their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Citigroup upped their price target on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Zacks Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.69.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $7.06 on Thursday. The firm has a fifty day simple moving average of $7.54 and a two-hundred day simple moving average of $8.06. The firm has a market cap of $2.02 billion, a PE ratio of -1.18, a P/E/G ratio of 0.28 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.57. Goodyear Tire & Rubber has a 1-year low of $6.14 and a 1-year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the business earned $0.39 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors have recently bought and sold shares of the stock. EFG International AG purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at $26,000. Los Angeles Capital Management LLC purchased a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $26,000. Focus Partners Wealth purchased a new stake in Goodyear Tire & Rubber in the third quarter worth about $25,000. Hantz Financial Services Inc. raised its stake in shares of Goodyear Tire & Rubber by 384.8% in the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after buying an additional 4,198 shares during the period. Finally, Cloud Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth about $47,000. 84.19% of the stock is 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.