Goodyear Tire & Rubber (NASDAQ:GT) PT Lowered to $15.90

Goodyear Tire & Rubber (NASDAQ:GT) had its target price dropped by analysts at HSBC from $16.80 to $15.90 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HSBC’s price objective would suggest a potential upside of 22.12% from the stock’s previous close.

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.98.

Goodyear Tire & Rubber Trading Up 2.8 %

Shares of GT opened at $13.02 on Wednesday. The stock has a market capitalization of $3.70 billion, a P/E ratio of -5.76 and a beta of 1.86. Goodyear Tire & Rubber has a twelve month low of $11.26 and a twelve month high of $16.50. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $12.55 and a two-hundred day simple moving average of $13.16.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. 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 $4.50 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted ($0.29) earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, research analysts anticipate that Goodyear Tire & Rubber will post 1.06 EPS for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in Goodyear Tire & Rubber by 3.0% in the third quarter. Inspire Investing LLC now owns 28,396 shares of the company’s stock worth $353,000 after buying an additional 818 shares during the last quarter. Retirement Systems of Alabama lifted its position in Goodyear Tire & Rubber by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 356,065 shares of the company’s stock valued at $4,889,000 after acquiring an additional 935 shares in the last quarter. Advisor Partners II LLC boosted its stake in Goodyear Tire & Rubber by 8.9% during the 3rd quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock valued at $171,000 after purchasing an additional 1,127 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Goodyear Tire & Rubber by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 80,701 shares of the company’s stock worth $1,003,000 after purchasing an additional 1,138 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Goodyear Tire & Rubber by 3.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $448,000 after purchasing an additional 1,277 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

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.