The Goodyear Tire & Rubber Company (NASDAQ:GT) Given Consensus Recommendation of "Moderate Buy" by Analysts

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.78.

A number of analysts recently commented on GT shares. Argus raised 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, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a report on Monday, March 31st. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. Finally, StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Allworth Financial LP lifted its position in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth $46,000. Signaturefd LLC increased its position in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Goodyear Tire & Rubber by 72.8% during the first quarter. Parallel Advisors LLC now owns 5,822 shares of the company's stock worth $54,000 after purchasing an additional 2,452 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of GT traded up $0.61 during trading hours on Wednesday, hitting $9.67. The stock had a trading volume of 8,099,460 shares, compared to its average volume of 5,011,544. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 40.29 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The company's fifty day moving average is $9.23 and its two-hundred day moving average is $9.15. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.91 billion. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

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.