Goodyear Tire & Rubber (NASDAQ:GT) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a strong sell rating to a sell rating in a research report report published on Saturday morning.

Other equities analysts have also issued research reports about the company. TD Cowen lowered their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Citigroup cut their target price 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. JPMorgan Chase & Co. lifted their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Hold” and an average target price of $8.47.

Goodyear Tire & Rubber Stock Performance

GT opened at $6.44 on Friday. The firm has a market capitalization of $1.85 billion, a PE ratio of -0.73 and a beta of 1.12. Goodyear Tire & Rubber has a twelve month low of $5.43 and a twelve month high of $10.62. The firm’s 50-day moving average price is $6.59 and its 200 day moving average price is $7.21. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 1.92.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. Goodyear Tire & Rubber’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Goodyear Tire & Rubber will post -0.26 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Goodyear Tire & Rubber by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after buying an additional 7,453 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Goodyear Tire & Rubber during the first quarter valued at about $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Goodyear Tire & Rubber by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock valued at $6,074,000 after acquiring an additional 15,064 shares during the last quarter. Envestnet Asset Management Inc. raised 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 acquiring an additional 1,011 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Goodyear Tire & Rubber by 23.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,060 shares of the company’s stock worth $156,000 after acquiring an additional 2,855 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other 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.