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

BidaskClub cut shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a sell rating in a report released on Thursday, BidAskClub reports.

Several other analysts have also commented on GT. ValuEngine raised VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Longbow Research raised Goodyear Tire & Rubber from an underperform rating to a neutral rating and set a $14.74 price objective on the stock in a report on Thursday, June 6th. Morgan Stanley set a $12.00 price objective on Adient and gave the company a sell rating in a report on Wednesday, June 26th. KeyCorp reissued a buy rating and issued a $235.00 price objective on shares of Workday in a report on Wednesday, May 22nd. Finally, Zacks Investment Research lowered W. R. Grace & Co from a buy rating to a hold rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $20.74.

Shares of GT opened at $15.14 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28. Goodyear Tire & Rubber has a 12 month low of $13.23 and a 12 month high of $25.41. The firm has a 50 day simple moving average of $14.77. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 6.53 and a beta of 1.74.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company earned $0.50 earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.79 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GT. CWM Advisors LLC lifted its position 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 buying an additional 1,479 shares in the last quarter. Deutsche Bank AG lifted its position in Goodyear Tire & Rubber by 14.3% during the fourth quarter. Deutsche Bank AG now owns 1,012,714 shares of the company’s stock worth $20,665,000 after buying an additional 126,642 shares in the last quarter. Geode Capital Management LLC lifted its position in Goodyear Tire & Rubber by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 3,515,759 shares of the company’s stock worth $71,647,000 after buying an additional 226,311 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Goodyear Tire & Rubber by 14.8% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,931 shares of the company’s stock worth $1,244,000 after buying an additional 7,842 shares in the last quarter. Finally, Neuburgh Advisers LLC lifted its position in Goodyear Tire & Rubber by 68.1% during the first quarter. Neuburgh Advisers LLC now owns 152,306 shares of the company’s stock worth $2,764,000 after buying an additional 61,710 shares in the last quarter. Institutional investors and hedge funds own 84.91% 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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