The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $13.18.

A number of research analysts recently commented on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. TD Cowen started coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th.

Goodyear Tire & Rubber Stock Up 1.0 %

Goodyear Tire & Rubber stock opened at $9.15 on Friday. The stock has a market cap of $2.61 billion, a PE ratio of 38.13 and a beta of 1.71. 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 stock’s fifty day moving average is $9.14 and its two-hundred day moving average is $8.98. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $13.86.

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

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of large investors have recently bought and sold shares of GT. Siemens Fonds Invest GmbH increased its position in Goodyear Tire & Rubber by 282.4% during the 4th quarter. Siemens Fonds Invest GmbH now owns 51,688 shares of the company’s stock worth $465,000 after purchasing an additional 38,170 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $5,269,000. Public Employees Retirement System of Ohio acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth $1,423,000. GTS Securities LLC raised its position in Goodyear Tire & Rubber by 107.4% in the fourth quarter. GTS Securities LLC now owns 10,178 shares of the company’s stock worth $92,000 after acquiring an additional 146,848 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Goodyear Tire & Rubber by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 642,347 shares of the company’s stock valued at $5,781,000 after acquiring an additional 93,158 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

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.