The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Rating of “Moderate Buy” from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.78.

Several brokerages recently commented on GT. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Friday. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Monday, March 31st. Finally, TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price target on the stock.

Goodyear Tire & Rubber Trading Up 2.6 %

GT opened at $11.01 on Friday. The company’s 50 day moving average is $9.57 and its 200-day moving average is $9.35. The company has a market cap of $3.14 billion, a P/E ratio of 45.88 and a beta of 1.42. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $13.26. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

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

Institutional Trading of Goodyear Tire & Rubber

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after buying an additional 1,674 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Goodyear Tire & Rubber by 125.9% during the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock valued at $29,000 after buying an additional 1,748 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Goodyear Tire & Rubber in the 1st quarter worth $33,000. Farther Finance Advisors LLC grew its holdings in shares of Goodyear Tire & Rubber by 1,799.1% in the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock worth $37,000 after acquiring an additional 3,868 shares during the period. Finally, Allworth Financial LP increased its position in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

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.