Goodyear Tire & Rubber’s (GT) “Hold” Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

Goodyear Tire & Rubber (NASDAQ:GT)‘s stock had its “hold” rating reiterated by research analysts at Deutsche Bank Aktiengesellschaft in a research report issued on Friday,Benzinga reports. They currently have a $10.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 16.41% from the company’s current price.

A number of other research firms have also commented on GT. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber has an average rating of “Hold” and a consensus price target of $13.30.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $8.59 on Friday. The firm has a market capitalization of $2.45 billion, a P/E ratio of -8.26 and a beta of 1.77. The business has a 50-day moving average of $9.32 and a 200-day moving average of $9.65. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $14.97.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Goodyear Tire & Rubber will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GT. Family Firm Inc. bought a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $26,000. Sound Income Strategies LLC raised its holdings in Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after acquiring an additional 3,778 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $45,000. MUFG Securities EMEA plc bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth $57,000. Finally, Private Trust Co. NA grew its stake in Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after buying an additional 3,700 shares in the last quarter. 84.19% of the stock is 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.