Goodyear Tire & Rubber Co VP Richard J. Noechel sold 20,853 shares of the stock on the open market in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of US$31.21, for a total transaction of US$650,822.13. Following the transaction, the vice president now directly owns 41,791 shares in the company, valued at approximately US$1,304,297.11. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Credit Agricole downgraded shares of Goodyear Tire & Rubber Co from a “buy” rating to an “underperform” rating in a research note on Wednesday. Analysts at CLSA downgraded shares of Goodyear Tire & Rubber Co from a “buy” rating to an “underperform” rating and lowered their price target for the stock from US$34.00 to US$33.00 in a research note on Wednesday. Analysts at Deutsche Bank raised their price target on shares of Goodyear Tire & Rubber Co from US$31.00 to US$34.00 and gave the company a “hold” rating in a research note on Monday. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Goodyear Tire & Rubber Co from US$35.00 to US$36.00 and gave the company an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of US$33.22.
Goodyear Tire & Rubber Co traded down 0.35% during mid-day trading on Wednesday, hitting US$31.39. 4,042,997 shares of the company’s stock traded hands. Goodyear Tire & Rubber Co has a 52-week low of US$18.87 and a 52-week high of US$32.74. The stock has a 50-day moving average of US$30. and a 200-day moving average of US$27.. The company has a market cap of US$8.47 billion and a price-to-earnings ratio of 3.28.
Goodyear Tire & Rubber Co (NYSE:GT) last announced its earnings results on Wednesday, April 29th. The company reported US$0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of US$0.44 by US$0.10. The company had revenue of US$4.00 billion for the quarter, compared to the consensus estimate of US$4.09 billion. During the same quarter in the previous year, the company posted US$0.56 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. On average, analysts predict that Goodyear Tire & Rubber Co will post US$3.00 earnings per share for the current fiscal year.
Goodyear Tire & Rubber Company is a manufacturer of tires. The Company develops, manufactures, market and distributes tires. The Company manufactures and markets rubber-related chemicals. The Company is an operator of commercial truck service and tire retreading centers. The Company has four operating segments: North America; Europe, Middle East and Africa; Latin America and Asia Pacific. – Dakota Financial News