Goodyear Tire & Rubber (NASDAQ:GT) Sets New 1-Year Low at $11.24

The Goodyear Tire & Rubber Company (NASDAQ:GTGet Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $11.24 and last traded at $11.24, with a volume of 1271876 shares traded. The stock had previously closed at $11.53.

Wall Street Analysts Forecast Growth

GT has been the subject of several recent research reports. HSBC reduced their target price on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley initiated coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average target price of $17.23.

View Our Latest Stock Analysis on Goodyear Tire & Rubber

Goodyear Tire & Rubber Price Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.60 and a current ratio of 1.15. The firm’s 50-day simple moving average is $12.21 and its 200-day simple moving average is $12.98.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $28,000. Jones Financial Companies Lllp purchased a new position in Goodyear Tire & Rubber during the 4th quarter valued at $33,000. Headinvest LLC purchased a new position in Goodyear Tire & Rubber during the 3rd quarter valued at $34,000. Kapitalo Investimentos Ltda purchased a new position in Goodyear Tire & Rubber during the 4th quarter valued at $72,000. Finally, Covestor Ltd increased its position in Goodyear Tire & Rubber by 33.6% during the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after purchasing an additional 1,284 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Company Profile

(Get Free Report)

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.

Further Reading

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