The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $17.16 Average PT from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.16.

Separately, StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Wednesday, February 21st.

Goodyear Tire & Rubber Trading Down 2.4 %

Goodyear Tire & Rubber stock traded down $0.30 during mid-day trading on Friday, hitting $12.27. The company's stock had a trading volume of 1,777,999 shares, compared to its average volume of 3,764,415. The stock's fifty day moving average is $12.72 and its two-hundred day moving average is $13.17. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $3.48 billion, a PE ratio of -5.09 and a beta of 1.85. Goodyear Tire & Rubber has a 1 year low of $10.12 and a 1 year high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.36 by $0.11. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the prior year, the business posted $0.07 EPS. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at about $125,650,000. Nomura Holdings Inc. grew its position in Goodyear Tire & Rubber by 1,498.4% in the first quarter. Nomura Holdings Inc. now owns 9,729,800 shares of the company's stock valued at $107,222,000 after acquiring an additional 9,121,084 shares in the last quarter. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $66,842,000. Electron Capital Partners LLC acquired a new position in shares of Goodyear Tire & Rubber during the third quarter worth $51,031,000. Finally, BlackRock Inc. boosted its stake in shares of Goodyear Tire & Rubber by 7.6% in the first quarter. BlackRock Inc. now owns 35,767,231 shares of the company's stock valued at $511,113,000 after purchasing an additional 2,528,942 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.