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

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have assigned 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 a report on the stock in the last year is $13.18.

A number of research firms recently weighed in on GT. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. 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 report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Finally, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently bought and sold shares of GT. American Century Companies Inc. boosted its stake in shares of Goodyear Tire & Rubber by 10.3% in the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock valued at $86,871,000 after purchasing an additional 897,463 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after purchasing an additional 86,227 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Goodyear Tire & Rubber by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock valued at $46,330,000 after purchasing an additional 396,230 shares in the last quarter. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at $39,626,000. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Goodyear Tire & Rubber by 13.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after purchasing an additional 484,198 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $9.04 on Friday. The company’s 50 day moving average is $9.17 and its 200-day moving average is $8.99. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $13.86. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The firm has a market cap of $2.58 billion, a P/E ratio of 37.67 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly 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 net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share 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.