Goodyear Tire & Rubber (NASDAQ:GT) Cut to Hold at StockNews.com

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other research firms also recently commented on GT. HSBC assumed coverage on Goodyear Tire & Rubber in a research report on Monday, December 4th. They issued a “buy” rating and a $16.80 target price on the stock. JPMorgan Chase & Co. raised their price objective on Goodyear Tire & Rubber from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $21.00 in a research report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and a consensus price target of $17.16.

Check Out Our Latest Report on GT

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $13.63 on Tuesday. The company has a market cap of $3.86 billion, a P/E ratio of -7.74 and a beta of 1.87. Goodyear Tire & Rubber has a twelve month low of $9.85 and a twelve month high of $16.50. The company’s 50-day moving average price is $14.04 and its 200-day moving average price is $13.34. The company has a current ratio of 1.30, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.36 by $0.11. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Goodyear Tire & Rubber had a negative return on equity of 1.03% and a negative net margin of 2.47%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. On average, sell-side analysts forecast that Goodyear Tire & Rubber will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Goodyear Tire & Rubber

In other Goodyear Tire & Rubber news, EVP Darren R. Wells sold 12,985 shares of Goodyear Tire & Rubber stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $14.19, for a total transaction of $184,257.15. Following the completion of the sale, the executive vice president now directly owns 98,764 shares of the company’s stock, valued at approximately $1,401,461.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Goodyear Tire & Rubber by 94.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,395 shares of the company’s stock valued at $491,000 after acquiring an additional 16,701 shares during the period. US Bancorp DE increased its stake in Goodyear Tire & Rubber by 10.3% in the first quarter. US Bancorp DE now owns 15,225 shares of the company’s stock valued at $217,000 after purchasing an additional 1,418 shares during the period. Citigroup Inc. raised its holdings in shares of Goodyear Tire & Rubber by 14.2% in the first quarter. Citigroup Inc. now owns 259,007 shares of the company’s stock valued at $3,702,000 after buying an additional 32,111 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Goodyear Tire & Rubber by 35.0% in the first quarter. PNC Financial Services Group Inc. now owns 33,421 shares of the company’s stock valued at $479,000 after buying an additional 8,670 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Goodyear Tire & Rubber by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,976 shares of the company’s stock worth $1,472,000 after buying an additional 9,818 shares during the period. Institutional investors and hedge funds own 80.05% of the company’s stock.

Goodyear Tire & Rubber Company Profile

(Get Free Report)

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 and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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

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