Goodyear Tire & Rubber (NASDAQ:GT) Earns Neutral Rating from BNP Paribas Exane

Key Points

• BNP Paribas Exane has reiterated a "neutral" rating for Goodyear Tire & Rubber (NASDAQ:GT) with a price target of $9.00, indicating a potential upside of 4.13% from its recent trading price.
• JPMorgan Chase & Co. lowered its price target for Goodyear to $17.00 while maintaining an "overweight" rating, reflecting recent mixed analyst opinions on the stock.
• Goodyear reported a loss of ($0.17) EPS in its latest quarterly earnings, falling short of analyst estimates, and experienced a 2.3% decrease in revenue compared to the same period last year.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at BNP Paribas Exane in a report released on Friday, MarketBeat reports. They presently have a $9.00 price objective on the stock. BNP Paribas Exane's price target points to a potential upside of 7.66% from the company's current price.

Other equities research analysts have also recently issued reports about the company. BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Goodyear Tire & Rubber Stock Down 18.5%

Shares of Goodyear Tire & Rubber stock traded down $1.90 on Friday, hitting $8.36. The company had a trading volume of 28,599,940 shares, compared to its average volume of 6,155,996. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 0.26 and a beta of 1.37. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $12.03. The stock has a 50 day moving average of $10.77 and a 200-day moving average of $10.13. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.31). The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.50 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.22%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Large investors have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Goodyear Tire & Rubber in the first quarter worth $20,422,000. Maple Rock Capital Partners Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $16,875,000. CenterBook Partners LP bought a new position in shares of Goodyear Tire & Rubber in the first quarter worth $13,413,000. Atlantic Investment Management Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $11,803,000. Finally, American Century Companies Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 11.7% in the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company's stock worth $99,666,000 after acquiring an additional 1,134,058 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.