The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $13.18 Consensus Price Target from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $13.18.

Several equities research analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $10.00 target price 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 on the stock in a research report on Tuesday, February 18th. StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective for the company.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Allworth Financial LP increased its holdings in shares of Goodyear Tire & Rubber by 251.8% in the fourth 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber during the third quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at $46,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after purchasing an additional 1,997 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth about $54,000. Institutional investors and hedge funds own 84.19% of the company's stock.

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Goodyear Tire & Rubber Stock Performance

GT stock traded down $0.17 during midday trading on Friday, hitting $9.15. 4,489,715 shares of the company traded hands, compared to its average volume of 4,539,420. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $13.86. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 37.98 and a beta of 1.71. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The business has a 50 day simple moving average of $9.18 and a 200-day simple moving average of $9.00.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.91 billion. As a group, equities research analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

About Goodyear Tire & Rubber

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.