Goodyear Tire & Rubber (NASDAQ:GT) Stock Rating Lowered by StockNews.com

Goodyear Tire & Rubber (NASDAQ:GT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

GT has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, March 31st. TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Argus upgraded 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. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average price target of $13.25.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $10.86 on Friday. The business’s fifty day moving average is $9.76 and its two-hundred day moving average is $9.44. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm has a market cap of $3.10 billion, a P/E ratio of 45.25 and a beta of 1.42. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently added to or reduced their stakes in GT. Barclays PLC increased its stake in shares of Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber in the third quarter valued at approximately $45,000. Franklin Resources Inc. raised its holdings in Goodyear Tire & Rubber by 11.0% in the third quarter. Franklin Resources Inc. now owns 135,131 shares of the company’s stock worth $1,139,000 after purchasing an additional 13,349 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of Goodyear Tire & Rubber by 96.1% during the fourth quarter. 180 Wealth Advisors LLC now owns 24,120 shares of the company’s stock worth $217,000 after purchasing an additional 11,823 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth $349,000. Institutional investors and hedge funds 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.