Jefferies Group LLC set a $39.00 price target on The Goodyear Tire & Rubber Company (NASDAQ:GT) in a report released on Saturday. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a hold rating to a buy rating and set a $38.00 target price on the stock in a report on Monday, April 17th. Citigroup Inc. boosted their target price on shares of The Goodyear Tire & Rubber from $36.00 to $41.00 and gave the company a buy rating in a report on Friday, April 7th. CLSA started coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They issued a buy rating and a $39.00 target price on the stock. Guggenheim started coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They issued a buy rating and a $39.00 target price on the stock. Finally, Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the company a buy rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $39.00.

Shares of The Goodyear Tire & Rubber (NASDAQ:GT) opened at 31.48 on Friday. The Goodyear Tire & Rubber has a 52-week low of $26.82 and a 52-week high of $37.20. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 6.93 and a beta of 1.55. The company has a 50-day moving average of $34.88 and a 200-day moving average of $34.52.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by $0.05. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Equities research analysts anticipate that The Goodyear Tire & Rubber will post $3.76 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 8.77%.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $35.29, for a total transaction of $220,562.50. Following the sale, the insider now directly owns 78,099 shares of the company’s stock, valued at approximately $2,756,113.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 18,750 shares of company stock worth $662,938 over the last three months. Insiders own 1.40% of the company’s stock.

Large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in shares of The Goodyear Tire & Rubber by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,140 shares of the company’s stock worth $282,000 after buying an additional 510 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of The Goodyear Tire & Rubber during the fourth quarter worth approximately $585,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of The Goodyear Tire & Rubber during the fourth quarter worth approximately $261,000. Macquarie Group Ltd. increased its stake in shares of The Goodyear Tire & Rubber by 51.9% in the fourth quarter. Macquarie Group Ltd. now owns 98,450 shares of the company’s stock worth $3,039,000 after buying an additional 33,650 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its stake in shares of The Goodyear Tire & Rubber by 24.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 159,211 shares of the company’s stock worth $5,732,000 after buying an additional 31,553 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About The Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

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