The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) was down 4.3% on Monday . The stock traded as low as $10.55 and last traded at $10.47. Approximately 763,498 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 5,517,269 shares. The stock had previously closed at $10.94.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on GT shares. BNP Paribas Exane raised shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 target price on the stock in a research report on Monday, June 9th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. BNP Paribas raised shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Buy" and a consensus price target of $14.20.
View Our Latest Stock Analysis on GT
Goodyear Tire & Rubber Price Performance
The company has a current ratio of 1.22, a quick ratio of 0.64 and a debt-to-equity ratio of 1.44. The company has a market cap of $3.00 billion, a P/E ratio of 12.51, a PEG ratio of 0.30 and a beta of 1.40. The business's fifty day moving average is $10.82 and its 200 day moving average is $9.78.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. Goodyear Tire & Rubber's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Institutional Investors Weigh In On Goodyear Tire & Rubber
A number of hedge funds have recently modified their holdings of GT. Rhumbline Advisers grew its stake in Goodyear Tire & Rubber by 1.3% in the 4th quarter. Rhumbline Advisers now owns 975,955 shares of the company's stock valued at $8,784,000 after buying an additional 12,359 shares in the last quarter. Allworth Financial LP grew its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after buying an additional 3,059 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Goodyear Tire & Rubber by 11.3% in the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock valued at $110,000 after buying an additional 1,209 shares in the last quarter. Truist Financial Corp grew its stake in Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after buying an additional 1,115 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $79,000. Institutional investors own 84.19% of the company's stock.
About Goodyear Tire & Rubber
(
Get Free Report)
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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