The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $13.18 Average PT from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $13.18.

Several equities research analysts recently issued reports on the company. TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a “buy” rating and a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, February 18th.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors have recently made changes to their positions in the company. Fidelity D & D Bancorp Inc. raised its position in shares of Goodyear Tire & Rubber by 3.2% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock valued at $283,000 after buying an additional 1,000 shares during the period. Truist Financial Corp increased its holdings in Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after purchasing an additional 1,115 shares during the last quarter. Amalgamated Bank increased its holdings in Goodyear Tire & Rubber by 0.9% in the 4th quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock valued at $1,147,000 after purchasing an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Goodyear Tire & Rubber by 11.3% in the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock valued at $110,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Barnett & Company Inc. increased its holdings in Goodyear Tire & Rubber by 1.4% in the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock valued at $861,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 1.8 %

GT stock opened at $9.14 on Friday. 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 has a 12-month low of $7.27 and a 12-month high of $13.86. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 38.08 and a beta of 1.71. The business’s 50-day moving average is $9.19 and its 200 day moving average is $9.00.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.91 billion. On average, sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal 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.