Goodyear Tire & Rubber (NASDAQ:GT) had its target price reduced by research analysts at Argus from $30.00 to $26.00 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Argus’ price objective suggests a potential upside of 19.10% from the stock’s current price.
GT has been the subject of several other reports. Goldman Sachs Group lowered Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Berenberg Bank lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Friday, August 31st. Morgan Stanley lowered Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $33.00 to $23.00 in a research report on Monday, August 13th. BidaskClub lowered Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 5th. Finally, Jefferies Financial Group restated a “buy” rating and set a $32.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Goodyear Tire & Rubber has an average rating of “Hold” and an average price target of $27.88.
Shares of GT stock opened at $21.83 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 0.76. The stock has a market capitalization of $5.03 billion, a P/E ratio of 7.73 and a beta of 1.69. Goodyear Tire & Rubber has a 12 month low of $19.25 and a 12 month high of $36.07.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.08). The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.95 billion. Goodyear Tire & Rubber had a return on equity of 13.84% and a net margin of 3.11%. Goodyear Tire & Rubber’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. Equities analysts anticipate that Goodyear Tire & Rubber will post 2.71 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in GT. Itau Unibanco Holding S.A. lifted its holdings in shares of Goodyear Tire & Rubber by 80.7% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 5,279 shares of the company’s stock valued at $123,000 after purchasing an additional 2,358 shares in the last quarter. Exane Asset Management bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at about $193,000. Oppenheimer Asset Management Inc. bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at about $205,000. Baird Financial Group Inc. bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at about $209,000. Finally, Vident Investment Advisory LLC lifted its holdings in shares of Goodyear Tire & Rubber by 33.7% during the 2nd quarter. Vident Investment Advisory LLC now owns 10,101 shares of the company’s stock valued at $235,000 after purchasing an additional 2,547 shares in the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.
Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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