Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Down 6.9% – Should You Sell?

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down 6.9% on Wednesday . The stock traded as low as $6.59 and last traded at $6.5350. 1,759,105 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 8,584,303 shares. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GT. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Citigroup lowered their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Reduce” and an average target price of $8.54.

Goodyear Tire & Rubber Stock Down 7.5%

The firm has a market capitalization of $1.87 billion, a P/E ratio of -0.90 and a beta of 1.12. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The business’s fifty day moving average price is $6.26 and its two-hundred day moving average price is $7.51.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the previous year, the business posted ($0.04) EPS. Goodyear Tire & Rubber’s revenue was down 8.7% on a year-over-year basis. Equities analysts expect that The Goodyear Tire & Rubber Company will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of large investors have recently made changes to their positions in the business. EFG International AG purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $26,000. Focus Partners Wealth purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 656.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after acquiring an additional 5,248 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 55.5% during the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after acquiring an additional 2,538 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.