Longbow Research Reiterates Hold Rating for Goodyear Tire and Rubber (GT)

Goodyear Tire and Rubber (NASDAQ:GT)‘s stock had its “hold” rating restated by Longbow Research in a report issued on Tuesday.

Other analysts have also recently issued reports about the stock. Jefferies Group set a $38.00 price target on shares of Goodyear Tire and Rubber and gave the company a “buy” rating in a research note on Wednesday, April 4th. ValuEngine cut shares of Goodyear Tire and Rubber from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Guggenheim set a $32.00 price target on shares of Goodyear Tire and Rubber and gave the company a “hold” rating in a research note on Friday, February 9th. BidaskClub cut shares of Goodyear Tire and Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, TheStreet cut shares of Goodyear Tire and Rubber from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $36.30.

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Goodyear Tire and Rubber stock opened at $27.28 on Tuesday. Goodyear Tire and Rubber has a fifty-two week low of $25.88 and a fifty-two week high of $36.74. The stock has a market cap of $6,783.91, a P/E ratio of 8.74 and a beta of 1.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 1.21.

Goodyear Tire and Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.23. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Goodyear Tire and Rubber had a net margin of 2.25% and a return on equity of 15.70%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. research analysts anticipate that Goodyear Tire and Rubber will post 3.67 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC grew its holdings in shares of Goodyear Tire and Rubber by 164.5% during the 4th quarter. Advisory Services Network LLC now owns 3,832 shares of the company’s stock valued at $124,000 after purchasing an additional 2,383 shares during the last quarter. Smith Moore & CO. purchased a new stake in Goodyear Tire and Rubber during the 4th quarter valued at $203,000. Vantage Financial Partners Ltd. Inc. purchased a new stake in Goodyear Tire and Rubber during the 4th quarter valued at $223,000. D.A. Davidson & CO. purchased a new stake in Goodyear Tire and Rubber during the 4th quarter valued at $233,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new stake in Goodyear Tire and Rubber during the 4th quarter valued at $330,000. 95.09% of the stock is currently owned by institutional investors.

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About Goodyear Tire and Rubber

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, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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

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