Exane BNP Paribas Begins Coverage on Goodyear Tire & Rubber (NASDAQ:GT)

Research analysts at Exane BNP Paribas initiated coverage on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a research note issued to investors on Friday, The Fly reports. The firm set an “outperform” rating and a $15.00 price target on the stock. Exane BNP Paribas’ price target points to a potential upside of 28.10% from the company’s current price.

GT has been the subject of several other research reports. Citigroup decreased their target price on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. BNP Paribas assumed coverage on Goodyear Tire & Rubber in a research report on Friday. They issued an “outperform” rating and a $10.00 target price for the company. Longbow Research raised Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 target price for the company in a research report on Thursday, June 6th. KeyCorp assumed coverage on Goodyear Tire & Rubber in a research report on Wednesday, May 22nd. They issued a “sector weight” rating and a $14.93 target price for the company. Finally, Zacks Investment Research raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $18.07.

Shares of NASDAQ:GT traded up $0.60 during trading on Friday, hitting $11.71. The stock had a trading volume of 4,344,100 shares, compared to its average volume of 4,267,526. Goodyear Tire & Rubber has a 12 month low of $10.97 and a 12 month high of $24.85. The company has a market capitalization of $2.72 billion, a PE ratio of 5.05 and a beta of 1.71. The firm’s fifty day moving average is $13.99 and its 200 day moving average is $16.76. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 1.27.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that Goodyear Tire & Rubber will post 1.53 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its holdings in shares of Goodyear Tire & Rubber by 5.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 40,700 shares of the company’s stock worth $623,000 after purchasing an additional 2,048 shares in the last quarter. Exane Derivatives boosted its stake in shares of Goodyear Tire & Rubber by 313.8% in the 2nd quarter. Exane Derivatives now owns 66,202 shares of the company’s stock worth $1,013,000 after buying an additional 50,203 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Goodyear Tire & Rubber by 68.1% in the 1st quarter. Neuburgh Advisers LLC now owns 152,306 shares of the company’s stock worth $2,764,000 after buying an additional 61,710 shares during the last quarter. Swiss National Bank boosted its stake in shares of Goodyear Tire & Rubber by 1.7% in the 1st quarter. Swiss National Bank now owns 778,800 shares of the company’s stock worth $14,135,000 after buying an additional 13,200 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Goodyear Tire & Rubber by 23.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 807,051 shares of the company’s stock worth $14,613,000 after buying an additional 151,978 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

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. 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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