The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $13.78.

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. TD Cowen initiated coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, March 31st.

Goodyear Tire & Rubber Trading Up 3.2 %

GT stock opened at $9.75 on Wednesday. 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 stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 40.63 and a beta of 1.49. The business has a fifty day moving average price of $9.26 and a 200 day moving average price of $9.16. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Analysts expect that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after purchasing an additional 897,463 shares during the period. Geode Capital Management LLC raised its stake in Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after buying an additional 86,227 shares during the period. Victory Capital Management Inc. lifted its holdings in Goodyear Tire & Rubber by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock worth $46,330,000 after acquiring an additional 396,230 shares in the last quarter. Norges Bank acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $39,626,000. Finally, Northern Trust Corp increased its holdings in shares of Goodyear Tire & Rubber by 17.0% in the fourth quarter. Northern Trust Corp now owns 3,941,378 shares of the company’s stock worth $35,472,000 after acquiring an additional 573,541 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

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.