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

Deutsche Bank Aktiengesellschaft restated their hold rating on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a research report report published on Friday, Marketbeat reports. They currently have a $10.00 target price on the stock.

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

Goodyear Tire & Rubber Trading Up 0.3 %

Shares of NASDAQ:GT opened at $8.62 on Friday. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -8.29 and a beta of 1.77. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The company has a 50 day moving average price of $9.32 and a 200 day moving average price of $9.65. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $14.97.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating 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 company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, research analysts anticipate that Goodyear Tire & Rubber will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Family Firm Inc. bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth about $26,000. Sound Income Strategies LLC lifted its holdings in shares of Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after buying an additional 3,778 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $45,000. MUFG Securities EMEA plc acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $57,000. Finally, Private Trust Co. NA increased its position in Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after acquiring an additional 3,700 shares during the period. Institutional investors own 84.19% of the company’s stock.

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. 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.