The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $14.00 Consensus Target Price from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $14.00.

Several research analysts recently commented on GT shares. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 price objective for the company. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. BNP Paribas raised Goodyear Tire & Rubber to a "hold" rating in a research report on Saturday, May 24th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a research note on Monday, March 31st. Finally, Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake 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 worth $26,000 after acquiring 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 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after acquiring an additional 1,748 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber during the first quarter valued at $33,000. Farther Finance Advisors LLC grew its position in shares of 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 valued at $37,000 after purchasing an additional 3,868 shares during the period. Finally, Allworth Financial LP raised its position in shares of Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after purchasing an additional 3,059 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Down 0.6%

Shares of NASDAQ:GT traded down $0.07 on Thursday, reaching $11.36. The company had a trading volume of 5,132,866 shares, compared to its average volume of 5,369,092. The firm has a market capitalization of $3.25 billion, a PE ratio of 47.34 and a beta of 1.42. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $12.58. The firm's 50 day simple moving average is $10.31 and its 200-day simple moving average is $9.66.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal 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.