The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives $12.98 Average Target Price from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have received an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $12.98.

A number of equities analysts have recently commented on GT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $9.79 on Tuesday. The company has a fifty day moving average of $9.04 and a two-hundred day moving average of $8.92. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $13.86. The company has a market capitalization of $2.79 billion, a PE ratio of 40.79 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its 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. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at $178,000. Vontobel Holding Ltd. purchased a new stake in Goodyear Tire & Rubber during the third quarter worth about $649,000. Inspire Advisors LLC boosted its holdings in Goodyear Tire & Rubber by 28.8% during the third quarter. Inspire Advisors LLC now owns 18,846 shares of the company’s stock worth $167,000 after buying an additional 4,209 shares in the last quarter. Net Worth Advisory Group purchased a new position in Goodyear Tire & Rubber in the third quarter valued at about $184,000. Finally, Jade Capital Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 22.2% during the 3rd quarter. Jade Capital Advisors LLC now owns 110,000 shares of the company’s stock valued at $974,000 after acquiring an additional 20,000 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.