Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Separately, HSBC decreased their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.98.
Check Out Our Latest Stock Analysis on Goodyear Tire & Rubber
Goodyear Tire & Rubber Trading Up 2.0 %
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last posted its earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned ($0.29) EPS. Goodyear Tire & Rubber’s revenue was down 8.9% on a year-over-year basis. Analysts forecast that Goodyear Tire & Rubber will post 1.06 earnings per share for the current year.
Institutional Investors Weigh In On Goodyear Tire & Rubber
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Goodyear Tire & Rubber by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 29,102,067 shares of the company’s stock valued at $416,742,000 after acquiring an additional 576,369 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Goodyear Tire & Rubber by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,501,327 shares of the company’s stock worth $236,302,000 after buying an additional 557,038 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Goodyear Tire & Rubber by 48.2% in the 4th quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after buying an additional 4,870,381 shares during the period. American Century Companies Inc. raised its stake in Goodyear Tire & Rubber by 24.9% during the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock worth $59,348,000 after acquiring an additional 953,047 shares during the period. Finally, Norges Bank bought a new position in Goodyear Tire & Rubber in the fourth quarter worth about $66,842,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.
About Goodyear Tire & Rubber
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.
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