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

StockNews.com lowered shares of Goodyear Tire & Rubber (NASDAQ:GT) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other equities research analysts have also recently issued reports about the company. TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a “buy” rating and a $14.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday, March 31st. Finally, Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $10.97 on Friday. The stock’s fifty day moving average is $9.80 and its two-hundred day moving average is $9.46. The company has a market capitalization of $3.13 billion, a PE ratio of 45.71 and a beta of 1.42. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Goodyear Tire & Rubber’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. As a group, analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its position in shares of Goodyear Tire & Rubber by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company’s stock worth $266,000 after buying an additional 932 shares during the period. Truist Financial Corp boosted its position in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after buying an additional 1,115 shares during the period. Amalgamated Bank boosted its position in shares of Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock worth $1,147,000 after buying an additional 1,156 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after buying an additional 1,209 shares during the period. Finally, Barnett & Company Inc. lifted its stake in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

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.