Goodyear Tire & Rubber's (GT) Sell (D) Rating Reiterated at Weiss Ratings

Key Points

• Goodyear Tire & Rubber received a "sell" rating from Weiss Ratings, indicating a negative outlook from analysts.
• Several analysts have recently adjusted their ratings and price targets for GT, with a current consensus rating of "Hold" and an average price target of $11.93.
• In its latest earnings report, Goodyear posted a loss of ($0.17) EPS, significantly missing consensus estimates, and its revenue declined 2.3% year-over-year.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on GT. 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. Citigroup initiated coverage on shares of Goodyear Tire & Rubber in a research note on Monday, September 8th. They set a "neutral" rating and a $10.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, August 11th. BNP Paribas Exane reissued a "neutral" rating and issued a $9.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Finally, HSBC restated a "hold" rating and issued a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Hold" and a consensus price target of $11.93.

Goodyear Tire & Rubber Trading Down 0.7%

Shares of GT stock opened at $7.34 on Wednesday. The firm's 50 day moving average price is $8.48 and its two-hundred day moving average price is $9.85. Goodyear Tire & Rubber has a fifty-two week low of $7.32 and a fifty-two week high of $12.03. The company has a quick ratio of 0.63, a current ratio of 1.15 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 5.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28.

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

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several institutional investors have recently bought and sold shares of the company. Hedges Asset Management LLC raised its stake in shares of Goodyear Tire & Rubber by 31.4% during the 3rd quarter. Hedges Asset Management LLC now owns 113,000 shares of the company's stock worth $845,000 after purchasing an additional 27,000 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Goodyear Tire & Rubber by 123.1% during the 2nd quarter. Corient Private Wealth LLC now owns 54,658 shares of the company's stock worth $567,000 after acquiring an additional 30,158 shares during the last quarter. Marex Group plc acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $122,000. Advisory Services Network LLC increased its holdings in shares of Goodyear Tire & Rubber by 6.9% during the 2nd quarter. Advisory Services Network LLC now owns 47,713 shares of the company's stock worth $490,000 after acquiring an additional 3,083 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Goodyear Tire & Rubber by 257.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 50,676 shares of the company's stock worth $526,000 after acquiring an additional 36,495 shares during the last quarter. Institutional investors own 84.19% of the company's stock.

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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