Goodyear Tire & Rubber (NASDAQ:GT) Earns “Hold” Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft restated their hold rating on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a research note issued to investors on Friday morning, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has a $10.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.30.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $8.62 on Friday. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -8.29 and a beta of 1.77. The company has a 50 day moving average price of $9.32 and a 200 day moving average price of $9.61. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $14.97. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of GT. Bank of New York Mellon Corp grew its stake in shares of Goodyear Tire & Rubber by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after acquiring an additional 71,410 shares in the last quarter. Barclays PLC grew its stake in Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after purchasing an additional 598,330 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Goodyear Tire & Rubber by 1,011.8% during the 2nd quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock worth $7,197,000 after purchasing an additional 577,045 shares during the last quarter. FMR LLC raised its position in shares of Goodyear Tire & Rubber by 28.1% in the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after purchasing an additional 184,770 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Goodyear Tire & Rubber by 1,843.6% during the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock valued at $4,204,000 after buying an additional 450,542 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

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.