The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $12.80 Consensus Target Price from Analysts

Key Points

• The Goodyear Tire & Rubber Company has received a consensus rating of "Moderate Buy" from seven analysts, with an average price target of $12.80.
• Recent brokerage activity includes a downgrade from BNP Paribas from "strong-buy" to "hold" and a price target reduction from JPMorgan Chase & Co. to $17.00.
• Goodyear's last quarterly earnings reported a loss of ($0.17) EPS, missing expectations, with a revenue decline of 2.3% compared to the same quarter last year.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven research firms 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 given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.80.

Several brokerages recently issued reports on GT. Deutsche Bank Aktiengesellschaft lowered their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday. Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. BNP Paribas Exane restated a "neutral" rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday. BNP Paribas lowered Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in shares of Goodyear Tire & Rubber by 3.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock valued at $266,000 after purchasing an additional 932 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Goodyear Tire & Rubber by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company's stock valued at $177,000 after purchasing an additional 1,011 shares during the period. State of Michigan Retirement System lifted its stake in shares of Goodyear Tire & Rubber by 1.9% in the 2nd quarter. State of Michigan Retirement System now owns 68,726 shares of the company's stock valued at $713,000 after purchasing an additional 1,300 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Goodyear Tire & Rubber by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 74,711 shares of the company's stock valued at $775,000 after purchasing an additional 1,393 shares during the period. Finally, John G Ullman & Associates Inc. increased its position in shares of Goodyear Tire & Rubber by 9.1% in the 1st quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company's stock valued at $166,000 after buying an additional 1,500 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT traded down $0.06 during trading hours on Tuesday, hitting $8.25. 11,157,032 shares of the company's stock were exchanged, compared to its average volume of 7,873,450. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $12.03. 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 stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.26 and a beta of 1.37. The company's 50-day moving average price is $10.65 and its 200-day moving average price is $10.11.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly 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 net margin of 2.22% and a return on equity of 3.17%. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

About Goodyear Tire & Rubber

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.