Goodyear Tire & Rubber’s (GT) “Hold” Rating Reiterated at Deutsche Bank Aktiengesellschaft

Goodyear Tire & Rubber (NASDAQ:GT)‘s stock had its “hold” rating reissued by equities research analysts at Deutsche Bank Aktiengesellschaft in a report released on Friday, MarketBeat reports. They presently have a $10.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 16.01% from the stock’s current price.

A number of other research analysts have also issued reports on GT. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.30.

Goodyear Tire & Rubber Stock Up 0.3 %

Goodyear Tire & Rubber stock opened at $8.62 on Friday. The firm has a market capitalization of $2.46 billion, a P/E ratio of -8.29 and a beta of 1.77. The company has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $9.63. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $14.97. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. As a group, equities analysts expect that Goodyear Tire & Rubber will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after purchasing an additional 71,410 shares during the last quarter. Barclays PLC grew its position in Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after buying an additional 598,330 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Goodyear Tire & Rubber by 1,011.8% in the second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock valued at $7,197,000 after buying an additional 577,045 shares in the last quarter. FMR LLC lifted its position in shares of Goodyear Tire & Rubber by 28.1% during the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after acquiring an additional 184,770 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Goodyear Tire & Rubber by 1,843.6% during the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock worth $4,204,000 after acquiring an additional 450,542 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

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.