The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $12.98 Average Target Price from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have earned an average rating of "Hold" from the five ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.98.

GT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a report on Tuesday. Finally, StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday.

Goodyear Tire & Rubber Stock Down 5.4 %

GT traded down $0.57 during midday trading on Tuesday, reaching $9.98. The company's stock had a trading volume of 5,588,594 shares, compared to its average volume of 5,731,385. The stock's 50-day moving average is $9.04 and its 200-day moving average is $8.88. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 41.59 and a beta of 1.79. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $13.86. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.39 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 the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, research analysts expect that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its stake in Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after acquiring an additional 598,330 shares in the last quarter. Geode Capital Management LLC increased its stake in Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after buying an additional 86,227 shares during the last quarter. FMR LLC boosted its holdings in shares of Goodyear Tire & Rubber by 28.1% in the 3rd quarter. FMR LLC now owns 842,822 shares of the company's stock worth $7,459,000 after buying an additional 184,770 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $649,000. Finally, Landscape Capital Management L.L.C. lifted its holdings in Goodyear Tire & Rubber by 69.5% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company's stock worth $1,264,000 after purchasing an additional 58,526 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

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.