Goodyear Tire & Rubber (NASDAQ:GT) Hits New 1-Year Low - Should You Sell?

Key Points

• Goodyear Tire & Rubber shares hit a new 52-week low at $7.40, reflecting ongoing challenges as the stock closed at $7.46.
• Analysts are mixed on the stock, with a consensus rating of "Hold" and a target price averaging $11.93, while some firms downgraded their ratings recently.
• In its latest earnings report, Goodyear reported a loss of ($0.17) EPS, falling short of estimates and marking a year-over-year revenue decline of 2.3%.

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $7.40 and last traded at $7.46, with a volume of 2706572 shares changing hands. The stock had previously closed at $7.56.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup initiated coverage on Goodyear Tire & Rubber in a research report on Monday, September 8th. They set a "neutral" rating and a $10.00 price objective on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Goodyear Tire & Rubber in a research report on Saturday, September 27th. BNP Paribas cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $11.93.

Goodyear Tire & Rubber Trading Down 1.6%

The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 0.98 and a beta of 1.28. The business's 50 day moving average is $8.60 and its 200 day moving average is $9.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.31). The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.Goodyear Tire & Rubber's revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. As a group, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Goodyear Tire & Rubber by 3.3% during the first quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock worth $266,000 after purchasing an additional 932 shares during the period. Envestnet Asset Management Inc. raised its position in Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company's stock worth $177,000 after buying an additional 1,011 shares during the last quarter. State of Michigan Retirement System raised its position in Goodyear Tire & Rubber by 1.9% during the 2nd quarter. State of Michigan Retirement System now owns 68,726 shares of the company's stock worth $713,000 after buying an additional 1,300 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Goodyear Tire & Rubber by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 74,711 shares of the company's stock valued at $775,000 after purchasing an additional 1,393 shares in the last quarter. Finally, John G Ullman & Associates Inc. grew its holdings in Goodyear Tire & Rubber by 9.1% during the first quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company's stock worth $166,000 after acquiring an additional 1,500 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.

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