Goodyear Tire & Rubber Co (GT) Receives Consensus Rating of “Buy” from Analysts

Goodyear Tire & Rubber Co (NASDAQ:GT) has earned a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.30.

GT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, January 29th. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. TheStreet lowered shares of Goodyear Tire & Rubber from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Guggenheim set a $32.00 target price on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Longbow Research began coverage on shares of Goodyear Tire & Rubber in a research report on Wednesday, January 31st. They set a “neutral” rating on the stock.

In related news, SVP Jean Claude Kihn sold 7,500 shares of Goodyear Tire & Rubber stock in a transaction on Friday, December 1st. The shares were sold at an average price of $32.12, for a total value of $240,900.00. Following the transaction, the senior vice president now directly owns 51,848 shares in the company, valued at approximately $1,665,357.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. LSV Asset Management raised its stake in shares of Goodyear Tire & Rubber by 0.4% during the 4th quarter. LSV Asset Management now owns 10,690,364 shares of the company’s stock worth $345,405,000 after buying an additional 47,711 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Goodyear Tire & Rubber by 3.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,015,995 shares of the company’s stock worth $233,282,000 after buying an additional 259,100 shares during the last quarter. Lyrical Asset Management LP raised its stake in shares of Goodyear Tire & Rubber by 3.0% during the 4th quarter. Lyrical Asset Management LP now owns 6,968,097 shares of the company’s stock worth $225,139,000 after buying an additional 200,005 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Goodyear Tire & Rubber by 6.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after purchasing an additional 411,401 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Goodyear Tire & Rubber by 10.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after purchasing an additional 414,651 shares during the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.

Shares of Goodyear Tire & Rubber (NASDAQ:GT) traded down $0.30 during trading on Wednesday, reaching $29.66. 3,115,700 shares of the company’s stock traded hands, compared to its average volume of 3,519,624. The stock has a market capitalization of $7,310.00, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.65 and a beta of 1.60. Goodyear Tire & Rubber has a one year low of $28.81 and a one year high of $37.20. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.21 and a quick ratio of 0.66.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.23. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.96 billion. Goodyear Tire & Rubber had a net margin of 2.25% and a return on equity of 15.70%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. sell-side analysts predict that Goodyear Tire & Rubber will post 3.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.89%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 21.79%.

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About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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