The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.23.

A number of equities analysts have recently weighed in on the company. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Morgan Stanley began coverage on Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective on the stock. Finally, StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Friday.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Large investors have recently modified their holdings of the business. Family Firm Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $28,000. Mather Group LLC. boosted its holdings in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after acquiring an additional 2,580 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $33,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $7.81 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The stock’s 50 day moving average price is $9.82 and its two-hundred day moving average price is $11.43. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -3.46 and a beta of 1.70. Goodyear Tire & Rubber has a 12-month low of $7.63 and a 12-month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.34) earnings per share. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.12 earnings per share for the current year.

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.