The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Consensus Rating of “Hold” from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.3571.

Several research firms recently issued reports on GT. JPMorgan Chase & Co. lowered their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Tuesday. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, BNP Paribas downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of large investors have recently made changes to their positions in GT. Greenvale Capital LLP bought a new position in shares of Goodyear Tire & Rubber in the 2nd quarter worth approximately $106,292,000. Marshall Wace LLP boosted its stake in shares of Goodyear Tire & Rubber by 1,107.5% during the 2nd quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock worth $81,152,000 after acquiring an additional 7,177,542 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth $32,301,000. Maple Rock Capital Partners Inc. grew its position in shares of Goodyear Tire & Rubber by 215.6% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company’s stock valued at $57,676,000 after acquiring an additional 3,799,383 shares during the period. Finally, Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter worth $29,112,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Up 0.2%

Shares of NASDAQ:GT opened at $8.44 on Thursday. The company has a market cap of $2.42 billion, a PE ratio of 5.94, a P/E/G ratio of 2.35 and a beta of 1.32. The stock’s 50-day moving average is $7.51 and its 200 day moving average is $9.21. Goodyear Tire & Rubber has a 1 year low of $6.51 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. Sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.