The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Rating of "Buy" from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) has received an average rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $14.20.

A number of research firms have recently commented on GT. JPMorgan Chase & Co. reissued an "overweight" rating and set a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a report on Monday, March 31st. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. Finally, 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.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of GT. GAMMA Investing LLC boosted its position in shares of Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after purchasing an additional 1,674 shares in the last quarter. UMB Bank n.a. increased its holdings in Goodyear Tire & Rubber by 125.9% in the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after buying an additional 1,748 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Goodyear Tire & Rubber in the first quarter worth approximately $33,000. Farther Finance Advisors LLC increased its holdings in Goodyear Tire & Rubber by 1,799.1% in the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after buying an additional 3,868 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after buying an additional 3,059 shares during the last quarter. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $10.24 on Monday. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $12.58. The firm has a 50 day moving average price of $10.83 and a 200 day moving average price of $9.76. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.29 and a beta of 1.40. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. Goodyear Tire & Rubber's revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts predict 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.

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