The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Consensus Rating of “Hold” from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GTGet Rating) have earned a consensus rating of “Hold” from the twelve analysts that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.41.

GT has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Goodyear Tire & Rubber from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $25.00 to $23.00 in a research note on Monday, February 14th. Nomura raised Goodyear Tire & Rubber from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $15.30 in a research note on Tuesday, May 10th. TheStreet lowered Goodyear Tire & Rubber from a “b-” rating to a “c” rating in a research note on Wednesday, May 18th. Morgan Stanley dropped their price objective on Goodyear Tire & Rubber from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 16th. Finally, Jefferies Financial Group lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.00 to $17.00 in a research note on Tuesday, February 22nd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC grew its stake in shares of Goodyear Tire & Rubber by 96.2% during the 1st quarter. Advisory Services Network LLC now owns 84,450 shares of the company’s stock valued at $1,207,000 after purchasing an additional 41,399 shares during the period. MUFG Securities EMEA plc grew its stake in shares of Goodyear Tire & Rubber by 178.4% during the 1st quarter. MUFG Securities EMEA plc now owns 10,206 shares of the company’s stock valued at $146,000 after purchasing an additional 6,540 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Goodyear Tire & Rubber during the 1st quarter valued at about $143,000. Quantbot Technologies LP bought a new stake in shares of Goodyear Tire & Rubber during the 1st quarter valued at about $1,169,000. Finally, Royal Bank of Canada grew its stake in shares of Goodyear Tire & Rubber by 91.2% during the 1st quarter. Royal Bank of Canada now owns 693,318 shares of the company’s stock valued at $9,907,000 after purchasing an additional 330,703 shares during the period. Institutional investors own 86.06% of the company’s stock.

GT stock opened at $13.69 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.65 and a debt-to-equity ratio of 1.40. The company’s 50 day moving average is $12.95 and its 200 day moving average is $16.87. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 4.58 and a beta of 1.88. Goodyear Tire & Rubber has a 1-year low of $10.89 and a 1-year high of $24.89.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. Goodyear Tire & Rubber had a net margin of 4.49% and a return on equity of 11.37%. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $0.43 earnings per share. The business’s quarterly revenue was up 39.8% on a year-over-year basis. As a group, sell-side analysts forecast that Goodyear Tire & Rubber will post 2.22 EPS for the current fiscal year.

Goodyear Tire & Rubber Company Profile (Get Rating)

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

Further Reading

Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

Want More Great Investing Ideas?

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.