Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $8.54

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.5429.

Several equities research analysts have recently weighed in on GT shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. TD Cowen reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $7.08 on Tuesday. The stock has a 50-day simple moving average of $6.49 and a 200 day simple moving average of $7.29. Goodyear Tire & Rubber has a twelve month low of $5.43 and a twelve month high of $10.62. The stock has a market capitalization of $2.04 billion, a PE ratio of -0.98 and a beta of 1.12. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS. Research analysts anticipate that Goodyear Tire & Rubber will post -0.26 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently made changes to their positions in GT. Envestnet Asset Management Inc. raised its holdings in Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after buying an additional 1,011 shares during the period. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock valued at $657,000 after buying an additional 1,065 shares during the period. Farther Finance Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 11.5% during the fourth quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock worth $98,000 after acquiring an additional 1,152 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Goodyear Tire & Rubber by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,282 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Goodyear Tire & Rubber by 2.8% during the fourth quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock worth $496,000 after acquiring an additional 1,529 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

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.