The Goodyear Tire & Rubber Company (NASDAQ:GT) was downgraded by research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. They currently have a $39.00 price target on the stock. Guggenheim’s price objective suggests a potential upside of 32.43% from the company’s previous close.

Several other research firms also recently commented on GT. Zacks Investment Research upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine downgraded The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Deutsche Bank AG downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research report on Friday, July 28th. Finally, Morgan Stanley set a $52.00 target price on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.55.

Shares of The Goodyear Tire & Rubber (NASDAQ GT) traded down $0.78 during mid-day trading on Wednesday, reaching $29.45. The company had a trading volume of 2,612,526 shares, compared to its average volume of 3,476,607. The firm has a market cap of $7.38 billion, a P/E ratio of 9.66, a PEG ratio of 0.83 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, October 27th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The Goodyear Tire & Rubber’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. research analysts expect that The Goodyear Tire & Rubber will post 2.91 earnings per share for the current fiscal year.

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In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $33.26, for a total value of $249,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 23,001 shares of company stock valued at $736,841. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Thrivent Financial For Lutherans increased its stake in shares of The Goodyear Tire & Rubber by 1.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 9,280 shares of the company’s stock valued at $334,000 after buying an additional 140 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of The Goodyear Tire & Rubber in the 1st quarter valued at $11,398,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of The Goodyear Tire & Rubber in the 1st quarter valued at $305,000. Credit Suisse AG increased its stake in shares of The Goodyear Tire & Rubber by 8.5% in the 1st quarter. Credit Suisse AG now owns 384,181 shares of the company’s stock valued at $13,830,000 after buying an additional 30,091 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of The Goodyear Tire & Rubber by 16.9% in the 1st quarter. HighTower Advisors LLC now owns 8,337 shares of the company’s stock valued at $301,000 after buying an additional 1,203 shares during the period. 90.02% of the stock is owned by 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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