Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Down 4.7% – Should You Sell?

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s share price traded down 4.7% during trading on Monday . The stock traded as low as $8.22 and last traded at $8.45. 2,272,076 shares traded hands during trading, a decline of 48% from the average session volume of 4,343,866 shares. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and a consensus target price of $13.30.

Goodyear Tire & Rubber Stock Performance

The firm has a fifty day moving average of $9.41 and a 200-day moving average of $9.09. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The firm has a market cap of $2.46 billion, a P/E ratio of -8.29 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Institutional investors have recently made changes to their positions in the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth $79,000. Truist Financial Corp increased its holdings in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after acquiring an additional 1,115 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Goodyear Tire & Rubber by 11.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after purchasing an additional 1,209 shares during the period. KLCM Advisors Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 59.4% during the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock valued at $15,934,000 after purchasing an additional 659,635 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.