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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.78.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GT. FMR LLC increased its position in shares of Goodyear Tire & Rubber by 28.1% during the third quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after acquiring an additional 184,770 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth $253,000. MML Investors Services LLC raised its stake in shares of Goodyear Tire & Rubber by 75.1% in the third quarter. MML Investors Services LLC now owns 381,539 shares of the company’s stock worth $3,377,000 after purchasing an additional 163,693 shares during the last quarter. Barclays PLC lifted its holdings in shares of Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after purchasing an additional 598,330 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at $393,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 6.7 %

Shares of NASDAQ:GT opened at $9.67 on Wednesday. The stock’s 50-day moving average is $9.23 and its 200 day moving average is $9.15. The company has a market cap of $2.76 billion, a PE 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. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Sell-side 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.