Goodyear Tire & Rubber (GT) Downgraded to Sell at BidaskClub

Goodyear Tire & Rubber (NASDAQ:GT) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research firms have also recently weighed in on GT. Longbow Research cut Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating and set a $14.00 price objective on the stock. in a research report on Monday. Jefferies Financial Group set a $26.00 target price on Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Tuesday, December 4th. Zacks Investment Research lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Morgan Stanley dropped their target price on Goodyear Tire & Rubber from $23.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, November 14th. Finally, ValuEngine cut Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Friday, February 8th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $23.56.

Shares of GT stock opened at $18.63 on Thursday. Goodyear Tire & Rubber has a 12 month low of $17.88 and a 12 month high of $30.07. The stock has a market cap of $4.35 billion, a PE ratio of 8.03, a PEG ratio of -1.48 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, February 8th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.09). The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $4.04 billion. Goodyear Tire & Rubber had a return on equity of 11.24% and a net margin of 4.48%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities analysts predict that Goodyear Tire & Rubber will post 2.57 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in GT. Financial Counselors Inc. lifted its stake in Goodyear Tire & Rubber by 0.4% in the 4th quarter. Financial Counselors Inc. now owns 144,076 shares of the company’s stock valued at $2,941,000 after buying an additional 517 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Goodyear Tire & Rubber by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 58,014 shares of the company’s stock worth $1,183,000 after buying an additional 632 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 0.9% during the 4th quarter. TD Asset Management Inc. now owns 69,256 shares of the company’s stock worth $1,414,000 after buying an additional 638 shares during the last quarter. Comerica Bank increased its holdings in Goodyear Tire & Rubber by 1.3% in the 4th quarter. Comerica Bank now owns 51,019 shares of the company’s stock valued at $1,065,000 after purchasing an additional 676 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Goodyear Tire & Rubber by 5.4% in the 4th quarter. Meeder Asset Management Inc. now owns 20,676 shares of the company’s stock valued at $423,000 after purchasing an additional 1,068 shares during the last quarter. 89.49% of the stock is currently owned by institutional investors.

About Goodyear Tire & Rubber

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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