Goodyear Tire & Rubber (NASDAQ:GT) Trading Down 4.3% - Time to Sell?

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report)'s stock price dropped 4.3% on Monday . The stock traded as low as $10.55 and last traded at $10.47. Approximately 763,498 shares were traded 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.

Analyst Ratings Changes

A number of equities research analysts have recently 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 price objective on the stock in a research note on Monday, June 9th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. BNP Paribas raised Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of "Buy" and a consensus price target of $14.20.

Goodyear Tire & Rubber Stock Down 3.3%

The business's 50-day moving average is $10.72 and its 200-day moving average is $9.77. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 44.11 and a beta of 1.40.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after acquiring an additional 1,674 shares during the last quarter. UMB Bank n.a. boosted its holdings in Goodyear Tire & Rubber by 125.9% in the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after acquiring an additional 1,748 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Goodyear Tire & Rubber during the first quarter valued at $33,000. Farther Finance Advisors LLC boosted its stake in Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock valued at $37,000 after buying an additional 3,868 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 3,059 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Company Profile

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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