Brokerages have given The Goodyear Tire & Rubber Company (NASDAQ:GT) an average recommendation of “Hold.” – Best Stocks

According to Bloomberg, the Goodyear Tire & Rubber Company (NASDAQ: GT) has been given a “hold” rating by the eleven rating agencies that cover the company. This rating represents the average rating given to the company. Seven financial professionals polled gave the stock a recommendation to maintain its current holdings, while only two gave it a recommendation to purchase. The brokerage firms that have issued a report on the stock in the previous year have set the average price target for the stock over the next year to be $16.19 per share. The brokerage firms set this price target in the preceding year.

Many research organizations have put their heads together to produce reports on GT stock. Citigroup lowered its price target for Goodyear Tire & Rubber from $16.00 to $13.00 and downgraded the company’s rating from “neutral” to “underweight” in a research note published on Wednesday. Deutsche Bank Aktiengesellschaft stated in a research report that was made public on Wednesday that it would reduce its target price for Goodyear Tire & Rubber to $10.00, down from $14.00. Finally, but certainly not least, the recommendation that StockNews.com has given for Goodyear Tire & Rubber has been changed from “buy” to “hold” in a report published on Wednesday.
When trading started on Friday, the share price of Goodyear Tire & Rubber Company was $9.90. Goodyear Tire & Rubber has seen a price as low as $9.81 over the past year, while the company has seen a price as high as $24.89 over the past year. The ratio of current assets to current liabilities is 1.30, the ratio of quick assets to current liabilities is 0.68, and the ratio of debt to equity is 1.42. The average price of the company’s stock over the past 50 days is $12.23; over the past 200 days, the simple moving average has been $12.36. The price-to-earnings ratio for the stock is currently 3.30, with a market value of $2.80 billion. The stock’s beta value is currently 1.92.

Goodyear Tire & Rubber (NASDAQ: GT) provided notice on the 31st of October that it would be publishing the financial results of its operations for the third quarter. The company announced that it had earnings of $0.40 per share for the quarter, which was $0.21 less than the average estimate of $0.61 per share. However, the company could only bring in $5.31 billion in revenue during the quarter, which is lower than the $5.34 billion analysts predicted it would bring in during the same period. A return on equity of 9.73 percent and a net margin of 4.19% point to a successful performance for Goodyear Tire & Rubber, which can be seen in both of these metrics. In the third quarter, revenue at Goodyear Tire & Rubber was up 7.6% when compared to the prior year’s performance during the same period. The company reported a profit of $0.72 per share for the same period in the previous year’s financial statements. According to market watchers’ projections, Goodyear Tire & Rubber is expected to generate earnings of $2.08 per share this year.

Several hedge funds have recently altered the proportion of GT held in their portfolios by either increasing or decreasing the amount of the asset. Spire Wealth Management spent approximately $65,000 to acquire a new position in Goodyear Tire & Rubber during the year’s first three months. Wedbush Securities Inc. increased its stake in Goodyear Tire & Rubber by purchasing approximately 144,000 dollars worth of additional shares during the first quarter of the year. During the first three months of the year, CWM LLC achieved a 43.1% increase in the share of Goodyear Tire & Rubber that it owned. As a result of the purchase of an additional 733 shares throughout the period, CWM LLC now has a total of 2,433 shares in the company. The current value of these shares is $35,000. The percentage of Goodyear Tire & Rubber stock that Strs Ohio owned at the beginning of the year increased by 16.1% during the first three months. After making additional purchases totaling 15,600 shares during the period in question, Strs Ohio now holds 11,300 shares of the company’s stock. The aggregate value of these holdings is $1,604,000. And finally, the Louisiana State Employees Retirement System increased the amount of Goodyear Tire & Rubber stock owned by 1.9% during the first three months of this year. The Louisiana State Employees Retirement System has a total of 73,600 shares of the company’s stock, which have a value of $1,029,000 after purchasing an additional 1,400 shares during the period in question. These shares have a value of $1,029,000 because the system now has 73,600 shares. Most of the stock is owned by institutional investors and hedge funds, which account for 88.2 percent of the total.

Tires are one of the many products and services that the Goodyear Tire & Rubber Company and its subsidiaries and affiliates create, manufacture, market, and sell globally. Goodyear Tire & Rubber Company is an American multinational corporation founded in 1900. It distributes tires for automobiles, trucks, buses, airplanes, motorcycles, earthmoving equipment, mining equipment, and industrial equipment under the brand names Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and other house brands, in addition to private-label brands. These brands include Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and other house brands. These tires were developed specifically for use on industrial equipment, mining equipment, and earthmoving equipment.