Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Down 4.7% - Should You Sell?

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report)'s stock price fell 4.7% during trading on Monday . The company traded as low as $8.22 and last traded at $8.45. 2,272,076 shares changed hands during trading, a decline of 48% from the average session volume of 4,343,866 shares. The stock had previously closed at $8.87.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GT. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of "Hold" and an average price target of $13.30.

Goodyear Tire & Rubber Stock Up 0.3 %

The firm's 50 day simple moving average is $9.28 and its 200-day simple moving average is $9.03. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -8.35 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. Goodyear Tire & Rubber's quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently made changes to their positions in GT. Sound Income Strategies LLC raised its position in Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock worth $35,000 after acquiring an additional 3,778 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Newbridge Financial Services Group Inc. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $54,000. Finally, Private Trust Co. NA increased its position in Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company's stock worth $62,000 after buying an additional 3,700 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

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.