The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $17.23 Consensus Target Price from Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.23.

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GT. Family Firm Inc. bought a new stake in Goodyear Tire & Rubber during the 2nd quarter worth about $26,000. Mather Group LLC. raised its position in shares of Goodyear Tire & Rubber by 4,526.3% in 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 during the period. Sound Income Strategies LLC grew its holdings in Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after purchasing an additional 3,778 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in Goodyear Tire & Rubber in the second quarter valued at approximately $40,000. Finally, MUFG Securities EMEA plc acquired a new stake in Goodyear Tire & Rubber in the second quarter worth $57,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock opened at $8.24 on Friday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -6.70 and a beta of 1.69. The company has a fifty day moving average of $8.37 and a 200-day moving average of $10.37. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) earnings per share. Equities research analysts expect that Goodyear Tire & Rubber will post 1.06 EPS for the current year.

About Goodyear Tire & 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, 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.