The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Goodyear Tire & Rubber has a consensus “Hold” rating from nine analysts, with two sell, five hold and two buy recommendations. The average 12-month price target is approximately $8.54.
• Recent analyst actions were mixed: Deutsche Bank lowered its price target to $7 while maintaining a hold rating, and TD Cowen cut its target to $9 but retained a buy rating; other firms upgraded or reaffirmed neutral-to-negative views.
• Goodyear reported a quarterly loss of $0.39 per share, though it exceeded estimates, while revenue fell 8.7% year over year to $3.88 billion. The stock opened at $7.11, and institutional investors own 84.19% of outstanding shares.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have been assigned a consensus rating of "Hold" from the nine brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.5429.

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research upgraded Goodyear Tire & Rubber from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 6th. Finally, TD Cowen cut their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $25,000. EFG International AG purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 656.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company's stock worth $40,000 after acquiring an additional 5,248 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company's stock worth $62,000 after acquiring an additional 2,538 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Trading Down 1.4%

Shares of GT opened at $7.11 on Tuesday. Goodyear Tire & Rubber has a fifty-two week low of $5.43 and a fifty-two week high of $11.05. The company has a market capitalization of $2.04 billion, a PE ratio of -0.98 and a beta of 1.12. The stock has a fifty day moving average of $6.39 and a two-hundred day moving average of $7.33. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. The business had revenue of $3.88 billion for the quarter, compared to analysts' expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business's revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. As a group, analysts forecast that Goodyear Tire & Rubber will post -0.26 EPS for the current year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear's core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.