Brokerages Set The Goodyear Tire & Rubber Company (NASDAQ:GT) Target Price at $17.16

The Goodyear Tire & Rubber Company (NASDAQ:GT) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.16.

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Large investors have recently bought and sold shares of the stock. Ancora Advisors LLC lifted its stake in shares of Goodyear Tire & Rubber by 71.4% during the 1st quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth $28,000. First Manhattan Co. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth $31,000. Jones Financial Companies Lllp purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth $33,000. Finally, Headinvest LLC purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Up 0.4 %

Shares of NASDAQ GT opened at $12.18 on Friday. Goodyear Tire & Rubber has a twelve month low of $10.12 and a twelve month high of $16.50. The stock has a market capitalization of $3.46 billion, a PE ratio of -5.05 and a beta of 1.85. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $13.18.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.36 by $0.11. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same period in the previous year, the firm posted $0.07 EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts forecast that Goodyear Tire & Rubber will post 1.12 earnings per share for the current year.

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, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.