The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $13.18 Consensus PT from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $13.18.

A number of equities research analysts recently commented on the company. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. TD Cowen started coverage on shares of 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GT. Allworth Financial LP grew its position in shares of Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $46,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at approximately $54,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $9.16 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $9.16 and a 200 day simple moving average of $8.99. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The firm has a market cap of $2.61 billion, a P/E ratio of 38.17 and a beta of 1.71.

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

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.