The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of “Hold” from Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $12.98.

Several equities research analysts recently commented on GT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of hedge funds have recently modified their holdings of GT. American Century Companies Inc. boosted its position in shares of Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after purchasing an additional 897,463 shares during the period. Geode Capital Management LLC lifted its stake in Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after purchasing an additional 86,227 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock worth $46,330,000 after buying an additional 396,230 shares during the period. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $39,626,000. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Goodyear Tire & Rubber by 13.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after buying an additional 484,198 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $9.98 on Tuesday. The firm has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $8.90. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 41.59 and a beta of 1.79. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data 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 net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. On average, equities analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share 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.