Analysts Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $14.20

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) has been given an average recommendation of "Buy" by the seven brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $14.20.

Several research analysts have weighed in on the stock. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. BNP Paribas upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price target on the stock in a research report on Monday, June 9th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th.

Goodyear Tire & Rubber Price Performance

GT traded up $0.15 on Monday, hitting $10.53. 4,225,521 shares of the company were exchanged, compared to its average volume of 5,661,190. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The business's fifty day moving average is $10.89 and its 200 day moving average is $9.77. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $12.58. The firm has a market capitalization of $3.01 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.30 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 the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently modified their holdings of GT. GAMMA Investing LLC lifted 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 period. UMB Bank n.a. lifted its stake in shares of Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after buying an additional 1,748 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Goodyear Tire & Rubber during the first quarter valued at approximately $33,000. Farther Finance Advisors LLC lifted its stake in shares of 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 period. Finally, Allworth Financial LP lifted its stake in shares of Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after buying an additional 3,059 shares during the period. Hedge funds and other institutional investors own 84.19% of the company's stock.

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.