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

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $13.18.

A number of brokerages recently issued reports on GT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Argus upgraded 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. TD Cowen began coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 target price for the company. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GT. American Century Companies Inc. grew its position in shares of Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock valued at $86,871,000 after acquiring an additional 897,463 shares during the period. Geode Capital Management LLC grew its position in shares of 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 valued at $62,438,000 after acquiring an additional 86,227 shares during the period. Victory Capital Management Inc. grew its position in shares of Goodyear Tire & Rubber by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock valued at $46,330,000 after acquiring an additional 396,230 shares during the period. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $39,626,000. Finally, Segall Bryant & Hamill LLC grew its position in shares of Goodyear Tire & Rubber by 13.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after acquiring an additional 484,198 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $9.14 on Friday. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86. The stock has a fifty day moving average price of $9.19 and a 200-day moving average price of $9.00. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm has a market cap of $2.61 billion, a PE ratio of 38.08 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

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.