The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $12.98 Average Target Price from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $12.98.

A number of research firms recently issued reports on GT. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th.

Institutional Trading of Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently bought and sold shares of GT. Allworth Financial LP increased its position in shares of Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $46,000. Signaturefd LLC raised its position in Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $54,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $10.55 on Tuesday. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $13.86. The company has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $8.88. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm has a market capitalization of $3.01 billion, a PE ratio of 43.96 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal 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.