The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $10.85 Average PT from Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned an average rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.85.

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Morgan Stanley raised their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a report on Friday, November 28th. JPMorgan Chase & Co. dropped their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday. Finally, Citigroup decreased their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Focus Partners Wealth bought a new stake in Goodyear Tire & Rubber during the third quarter worth approximately $25,000. Solstein Capital LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter worth $26,000. Ameritas Advisory Services LLC bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after buying an additional 2,726 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Goodyear Tire & Rubber during the second quarter valued at $31,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

GT opened at $8.87 on Monday. The company’s 50-day simple moving average is $7.85 and its two-hundred day simple moving average is $8.95. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.71 and a current ratio of 1.27. The stock has a market capitalization of $2.54 billion, a P/E ratio of -1.46, a P/E/G ratio of 1.84 and a beta of 1.18. Goodyear Tire & Rubber has a 52-week low of $6.51 and a 52-week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.12. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.