Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Price Target at $13.18

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.18.

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

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $9.16 on Friday. The firm’s fifty day moving average price is $9.16 and its two-hundred day moving average price is $8.99. 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 company has a market cap of $2.61 billion, a P/E ratio of 38.17 and a beta of 1.71. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $13.86.

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. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. Equities analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently bought and sold shares of GT. Victory Capital Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 3,921.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after purchasing an additional 4,633,368 shares in the last quarter. Norges Bank bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth $39,626,000. Maple Rock Capital Partners Inc. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $16,875,000. Atlantic Investment Management Inc. bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $11,803,000. Finally, American Century Companies Inc. raised its stake in Goodyear Tire & Rubber by 10.3% during the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after acquiring an additional 897,463 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

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.