The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Consensus Rating of “Reduce” from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned a consensus rating of “Reduce” from the nine analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.5429.

Several research analysts have recently commented on GT shares. Zacks Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen downgraded Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Finally, Citigroup reduced their price target on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, May 8th.

Goodyear Tire & Rubber Stock Down 0.4%

GT stock opened at $5.58 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average price of $6.65 and a two-hundred day moving average price of $7.98. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -0.77 and a beta of 1.17. Goodyear Tire & Rubber has a twelve month low of $5.43 and a twelve month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the company posted ($0.04) EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. Analysts anticipate that Goodyear Tire & Rubber will post -0.11 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors have recently added to or reduced their stakes in GT. Focus Partners Wealth bought a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at $25,000. EFG International AG acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $26,000. Hantz Financial Services Inc. raised its holdings in Goodyear Tire & Rubber by 384.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after acquiring an additional 4,198 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Goodyear Tire & Rubber by 656.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after acquiring an additional 5,248 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

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.