The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of “Moderate Buy” from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $17.23.

GT has been the topic of a number of research reports. Morgan Stanley started coverage on Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target on the stock. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Finally, StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

Goodyear Tire & Rubber Trading Up 5.0 %

GT opened at $8.77 on Monday. The stock has a market capitalization of $2.50 billion, a PE ratio of -3.88 and a beta of 1.70. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $15.24. The firm’s fifty day moving average price is $8.89 and its 200 day moving average price is $11.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.09 by $0.10. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates 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 company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) EPS. As a group, research analysts expect that Goodyear Tire & Rubber will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GT. Jones Financial Companies Lllp bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $33,000. Cibc World Markets Corp lifted its position in Goodyear Tire & Rubber by 33.3% in the fourth quarter. Cibc World Markets Corp now owns 800,000 shares of the company’s stock worth $11,456,000 after purchasing an additional 200,000 shares during the period. Seven Eight Capital LP boosted its stake in Goodyear Tire & Rubber by 29.0% during the 4th quarter. Seven Eight Capital LP now owns 215,095 shares of the company’s stock valued at $3,080,000 after purchasing an additional 48,366 shares in the last quarter. Appian Way Asset Management LP acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at $7,343,000. Finally, Virtu Financial LLC bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $249,000. Institutional investors and hedge funds 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.