Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Price Target at $9.69

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.1143.

Several analysts have issued reports on GT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. TD Cowen cut their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Zacks Research lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Goodyear Tire & Rubber from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Citigroup upped their price objective on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors have recently modified their holdings of the business. Invenomic Capital Management LP bought a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at $13,753,000. CenterBook Partners LP lifted its position in shares of Goodyear Tire & Rubber by 166.1% during the third quarter. CenterBook Partners LP now owns 2,040,792 shares of the company’s stock worth $15,265,000 after acquiring an additional 1,273,883 shares in the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth $1,318,000. Allianz Asset Management GmbH boosted its holdings in shares of Goodyear Tire & Rubber by 76.3% in the third quarter. Allianz Asset Management GmbH now owns 1,135,023 shares of the company’s stock worth $8,490,000 after acquiring an additional 491,210 shares during the period. Finally, Brevan Howard Capital Management LP grew its position in shares of Goodyear Tire & Rubber by 313.7% in the third quarter. Brevan Howard Capital Management LP now owns 438,206 shares of the company’s stock valued at $3,278,000 after purchasing an additional 332,294 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Down 0.6%

Goodyear Tire & Rubber stock opened at $7.05 on Friday. The firm has a 50 day moving average price of $7.34 and a 200-day moving average price of $8.04. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.57. Goodyear Tire & Rubber has a twelve month low of $6.14 and a twelve month high of $12.03. The company has a market capitalization of $2.02 billion, a P/E ratio of -1.18, a P/E/G ratio of 0.53 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts predict that Goodyear Tire & Rubber will post 0.35 EPS for the current year.

Goodyear Tire & Rubber Company Profile

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.