The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of “Moderate Buy” from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.16.

Separately, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Goodyear Tire & Rubber by 7.6% in the first quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock valued at $511,113,000 after purchasing an additional 2,528,942 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Goodyear Tire & Rubber by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 29,102,067 shares of the company’s stock valued at $416,742,000 after purchasing an additional 576,369 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Goodyear Tire & Rubber by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,501,327 shares of the company’s stock valued at $236,302,000 after purchasing an additional 557,038 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Goodyear Tire & Rubber by 48.2% in the fourth quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after purchasing an additional 4,870,381 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Goodyear Tire & Rubber by 2.7% in the first quarter. State Street Corp now owns 10,052,612 shares of the company’s stock valued at $110,780,000 after purchasing an additional 260,929 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Down 0.8 %

GT opened at $12.57 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.57 billion, a PE ratio of -5.22 and a beta of 1.85. Goodyear Tire & Rubber has a 1-year low of $10.12 and a 1-year high of $16.50. The firm has a 50-day moving average price of $12.75 and a two-hundred day moving average price of $13.17.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.36 by $0.11. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the previous year, the company earned $0.07 EPS. Goodyear Tire & Rubber’s revenue was down 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Goodyear Tire & Rubber will post 1.12 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

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 rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.