The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $17.23 Consensus PT from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $17.23.

Several research firms recently issued reports on GT. StockNews.com cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 5th.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock traded down $0.35 during mid-day trading on Friday, reaching $8.24. 4,420,396 shares of the stock traded hands, compared to its average volume of 4,186,308. The stock has a market capitalization of $2.35 billion, a PE ratio of -3.65 and a beta of 1.69. The business has a 50-day moving average of $8.37 and a 200 day moving average of $10.41. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41.

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

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in Goodyear Tire & Rubber by 0.3% in the first quarter. Retirement Systems of Alabama now owns 356,065 shares of the company's stock valued at $4,889,000 after purchasing an additional 935 shares in the last quarter. Covestor Ltd lifted its position in Goodyear Tire & Rubber by 33.6% in the first quarter. Covestor Ltd now owns 5,108 shares of the company's stock valued at $70,000 after acquiring an additional 1,284 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Goodyear Tire & Rubber by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company's stock valued at $2,833,000 after acquiring an additional 1,475 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Goodyear Tire & Rubber by 2.4% during the first quarter. State of Michigan Retirement System now owns 69,626 shares of the company's stock worth $956,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company's stock valued at $903,000 after purchasing an additional 1,621 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

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.