Goodyear Tire & Rubber (NASDAQ:GT) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

GT has been the topic of a number of other research reports. Longbow Research reaffirmed a sell rating and issued a $14.00 price objective on shares of Goodyear Tire & Rubber in a research report on Wednesday, April 24th. ValuEngine downgraded shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a research report on Saturday, March 9th. KeyCorp initiated coverage on shares of Goodyear Tire & Rubber in a research report on Wednesday, May 22nd. They issued a sector weight rating and a $14.93 price objective on the stock. Argus downgraded shares of Goodyear Tire & Rubber from a buy rating to a hold rating in a research report on Monday, February 11th. Finally, Morgan Stanley set a $15.00 price objective on shares of Goodyear Tire & Rubber and gave the stock a hold rating in a research report on Thursday, May 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $20.85.

NASDAQ GT opened at $14.92 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 6.43 and a beta of 1.71. Goodyear Tire & Rubber has a one year low of $13.23 and a one year high of $25.46.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, April 26th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.74 billion. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. On average, equities research analysts expect that Goodyear Tire & Rubber will post 1.82 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Tuesday, April 30th. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 27.59%.

A number of hedge funds have recently added to or reduced their stakes in GT. CWM Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 12.6% during the fourth quarter. CWM Advisors LLC now owns 13,263 shares of the company’s stock worth $271,000 after acquiring an additional 1,479 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Goodyear Tire & Rubber by 14.3% in the fourth quarter. Deutsche Bank AG now owns 1,012,714 shares of the company’s stock valued at $20,665,000 after purchasing an additional 126,642 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 3,515,759 shares of the company’s stock valued at $71,647,000 after purchasing an additional 226,311 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Goodyear Tire & Rubber by 14.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,931 shares of the company’s stock valued at $1,244,000 after purchasing an additional 7,842 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of Goodyear Tire & Rubber by 7.9% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 240,564 shares of the company’s stock valued at $4,910,000 after purchasing an additional 17,554 shares in the last quarter. Institutional investors own 85.29% 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. The company 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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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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