Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $10.85

by · The Cerbat Gem

The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Free Report) has been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.85.

Several equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday. HSBC reiterated a “hold” rating and set a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. Morgan Stanley boosted their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Finally, JPMorgan Chase & Co. cut their target price on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th.

View Our Latest Stock Analysis on Goodyear Tire & Rubber

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $8.87 on Monday. The business has a 50-day moving average of $7.77 and a 200-day moving average of $8.96. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -1.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.18. Goodyear Tire & Rubber has a 1 year low of $6.51 and a 1 year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last released its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Several large investors have recently modified their holdings of the stock. Chelsea Counsel Co. acquired a new position in shares of Goodyear Tire & Rubber during the second quarter valued at about $1,225,000. Strs Ohio acquired a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at about $914,000. Econ Financial Services Corp bought a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at about $923,000. JPMorgan Chase & Co. raised its stake in Goodyear Tire & Rubber by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock worth $21,171,000 after buying an additional 247,609 shares during the period. Finally, DG Capital Management LLC acquired a new position in Goodyear Tire & Rubber during the 1st quarter worth approximately $4,930,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

(Get Free Report)

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.

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