The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have received an average rating of "Moderate Buy" from the five analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $17.23.

A number of equities research analysts have recently weighed in on GT shares. Morgan Stanley began coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an "equal weight" rating and a $14.00 target price on the stock. Wolfe Research downgraded Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 5th. Finally, StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $33,000. Cibc World Markets Corp grew its holdings in shares of Goodyear Tire & Rubber by 33.3% in the fourth quarter. Cibc World Markets Corp now owns 800,000 shares of the company's stock valued at $11,456,000 after purchasing an additional 200,000 shares in the last quarter. Seven Eight Capital LP increased its position in Goodyear Tire & Rubber by 29.0% in the fourth quarter. Seven Eight Capital LP now owns 215,095 shares of the company's stock worth $3,080,000 after purchasing an additional 48,366 shares during the last quarter. Appian Way Asset Management LP purchased a new stake in Goodyear Tire & Rubber during the fourth quarter valued at $7,343,000. Finally, Virtu Financial LLC bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at $249,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Up 0.9 %

Shares of NASDAQ:GT traded up $0.08 on Monday, reaching $8.85. 6,814,292 shares of the company traded hands, compared to its average volume of 4,012,131. The stock has a market capitalization of $2.52 billion, a P/E ratio of -3.88 and a beta of 1.70. The business's 50-day simple moving average is $8.89 and its 200 day simple moving average is $11.03. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted ($0.34) EPS. The firm's revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Goodyear Tire & Rubber will post 1.06 EPS for the current fiscal year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.