Deutsche Bank Aktiengesellschaft Reiterates “Hold” Rating for Goodyear Tire & Rubber (NASDAQ:GT)

Goodyear Tire & Rubber (NASDAQ:GT)‘s stock had its “hold” rating restated by equities researchers at Deutsche Bank Aktiengesellschaft in a research report issued on Friday, MarketBeat reports. They currently have a $10.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 16.01% from the company’s previous close.

Several other equities research analysts also recently commented on GT. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and a consensus target price of $13.30.

Goodyear Tire & Rubber Trading Up 0.3 %

Shares of GT stock opened at $8.62 on Friday. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $14.97. The firm’s 50 day moving average price is $9.32 and its two-hundred day moving average price is $9.63. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -8.29 and a beta of 1.77. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the company earned $0.36 EPS. The firm’s revenue was down 6.2% on a year-over-year basis. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.09 EPS for the current year.

Institutional Trading of Goodyear Tire & Rubber

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