Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) PT at $12.25

Key Points

• The Goodyear Tire & Rubber Company has received a consensus recommendation of "Moderate Buy" from eight research firms, with an average 12-month price target of $12.25.
• Goodyear's recent quarterly earnings report disclosed a loss of ($0.17) EPS, missing the consensus estimate, while revenue was reported at $4.47 billion, slightly below expectations.
• Institutional investors and hedge funds hold approximately 84.19% of Goodyear's stock, indicating significant institutional confidence in the company.

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.9286.

GT has been the topic of several recent analyst reports. BNP Paribas Exane restated a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Citigroup started coverage on Goodyear Tire & Rubber in a research note on Monday. They issued a "neutral" rating and a $10.00 price target for the company. 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 research report on Thursday, May 22nd. HSBC reissued a "hold" rating and issued a $9.50 price objective (down from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Finally, 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 research report on Monday, August 11th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Solstein Capital LLC bought a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter worth about $26,000. Ameritas Advisory Services LLC purchased a new position in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company's stock valued at $29,000 after buying an additional 2,726 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after buying an additional 1,674 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter worth approximately $31,000. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded up $0.01 during trading on Friday, hitting $8.57. The company's stock had a trading volume of 10,633,105 shares, compared to its average volume of 7,057,393. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 0.76 and a beta of 1.37. The company has a 50-day moving average of $9.63 and a 200-day moving average of $10.01. Goodyear Tire & Rubber has a 12 month low of $7.52 and a 12 month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $4.47 billion during the quarter, compared to analysts' expectations of $4.50 billion. During the same period in the prior year, the company posted $0.19 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

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.