Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Down 4.7% – Should You Sell?

The Goodyear Tire & Rubber Company (NASDAQ:GT) shares were down 4.7% during trading on Monday . The stock traded as low as $8.22 and last traded at $8.45. Approximately 2,272,076 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 4,343,866 shares. The stock had previously closed at $8.87.

Wall Street Analyst Weigh In

GT has been the subject of a number of recent research reports. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Hold” and an average target price of $13.30.

Goodyear Tire & Rubber Price Performance

The stock has a 50-day moving average of $9.41 and a two-hundred day moving average of $9.09. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -8.29 and a beta of 1.79. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GT. Barclays PLC raised its position in shares of Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after buying an additional 598,330 shares during the last quarter. Geode Capital Management LLC raised its holdings in Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after acquiring an additional 86,227 shares in the last quarter. FMR LLC lifted its position in shares of Goodyear Tire & Rubber by 28.1% in the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock worth $7,459,000 after acquiring an additional 184,770 shares during the period. SG Americas Securities LLC grew its holdings in shares of Goodyear Tire & Rubber by 1,843.6% during the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock worth $4,204,000 after purchasing an additional 450,542 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at approximately $649,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

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.