The Goodyear Tire & Rubber Company (GT) Given a $36.00 Price Target at Jefferies Group LLC

Jefferies Group LLC set a $36.00 price target on The Goodyear Tire & Rubber Company (NASDAQ:GT) in a report released on Monday, August 7th. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank AG downgraded shares of The Goodyear Tire & Rubber from a buy rating to a hold rating and set a $40.00 price objective for the company. in a research report on Friday, July 28th. Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the company a buy rating in a report on Friday, July 28th. BidaskClub cut shares of The Goodyear Tire & Rubber from a hold rating to a sell rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of The Goodyear Tire & Rubber from a buy rating to a hold rating in a report on Monday, April 24th. Finally, CLSA assumed coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They set a buy rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $38.10.

The Goodyear Tire & Rubber (NASDAQ GT) traded down 0.53% during midday trading on Monday, hitting $29.75. The company had a trading volume of 1,851,976 shares. The company has a market capitalization of $7.49 billion, a P/E ratio of 6.48 and a beta of 1.53. The stock has a 50 day moving average price of $33.47 and a 200 day moving average price of $34.42. The Goodyear Tire & Rubber has a 52 week low of $26.82 and a 52 week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company posted $1.16 EPS. The Goodyear Tire & Rubber’s quarterly revenue was down 5.0% on a year-over-year basis. Equities analysts forecast that The Goodyear Tire & Rubber will post $3.10 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is currently 8.77%.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $35.46, for a total transaction of $221,625.00. Following the completion of the sale, the insider now owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 12,789 shares of company stock valued at $450,950 in the last three months. Insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in GT. Pioneer Investment Management Inc. raised its position in The Goodyear Tire & Rubber by 0.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,448,785 shares of the company’s stock worth $52,156,000 after buying an additional 10,572 shares during the last quarter. British Columbia Investment Management Corp raised its stake in shares of The Goodyear Tire & Rubber by 60.2% in the first quarter. British Columbia Investment Management Corp now owns 272,679 shares of the company’s stock worth $9,816,000 after buying an additional 102,488 shares in the last quarter. Parkwood LLC raised its stake in shares of The Goodyear Tire & Rubber by 19.2% in the first quarter. Parkwood LLC now owns 23,982 shares of the company’s stock worth $863,000 after buying an additional 3,860 shares in the last quarter. Summit Securities Group LLC raised its stake in shares of The Goodyear Tire & Rubber by 890.9% in the first quarter. Summit Securities Group LLC now owns 95,428 shares of the company’s stock worth $3,435,000 after buying an additional 85,798 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of The Goodyear Tire & Rubber by 19.7% in the first quarter. Mutual of America Capital Management LLC now owns 33,711 shares of the company’s stock worth $1,214,000 after buying an additional 5,539 shares in the last quarter. 94.10% of the stock is owned by institutional investors and hedge funds.

The Goodyear Tire & Rubber Company Profile

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 The Goodyear Tire & Rubber (NASDAQ:GT)

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