The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $13.78 Average Target Price from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.78.

A number of research analysts recently issued reports on the company. 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 report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 price target for the company.

Goodyear Tire & Rubber Trading Down 0.7 %

NASDAQ:GT traded down $0.07 on Wednesday, reaching $9.59. 528,609 shares of the company's stock were exchanged, compared to its average volume of 5,007,936. The business has a fifty day moving average of $9.29 and a 200-day moving average of $9.17. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $13.26. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 39.97 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The company 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%. As a group, analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after buying an additional 1,674 shares during the last quarter. UMB Bank n.a. increased its position in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after acquiring an additional 1,748 shares during the period. Farther Finance Advisors LLC raised its stake in Goodyear Tire & Rubber by 1,799.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock valued at $37,000 after acquiring an additional 3,868 shares during the last quarter. Allworth Financial LP lifted its position in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after acquiring an additional 3,059 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $45,000. 84.19% of the stock is owned by institutional investors and hedge funds.

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.