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Goodyear Tire (NASDAQ:GT) Decreased by Goldman Sachs to “Neutral” from “Buy” Rating

Goldman Sachs Analyst Rating Change Goodyear Tire NASDAQ:GT

Goodyear Tire (NASDAQ:GT) Rating Change

Goodyear Tire (NASDAQ:GT)’s stock was decreased to “Neutral” by expert analysts at Goldman Sachs. GT’s “Buy” rating is no longer valid.

This rating downgrade is probably noticed by stock investors, as NASDAQ:GT is currently trading -1.14% lower at $35.78 as of 2:03 AM New York time. Goodyear Tire shares have [From2] 0% in the last 200 days, while the S&P500 has risen 13.57% in the same time.

Out of 7 brokers covering Goodyear Tire, 0 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $39 and the lowest is $20 according to Thomson/First Call. The 12-month mean target is $33.43, which means downside potential of 6.57% over the current price.

Institutional Ownership

Marcato Capital Management Lp had the most significant stake with ownership of 4.39 million shares as of Q2 2015 for 12.23% of the US long stock exposure. Wilen Investment Management Corp. is another bull as the active investment manager who is possessing 417,192 shares of Goodyear Tire or 8.72% of their US long stock exposure. Furthermore, Anchor Bolt Capital Lp have 7.07% of their US long stock exposure invested in the company for 7.13 million shares. The New York-based fund Moon Capital Management Lp revealed it had purchased so far a stake worth about 6.65% of the active investment manager’s stock portfolio in Goodyear Tire. The Missouri-based fund Towle & Co is also positive about the stock, possessing 546,003 shares or 4.64% of their US long stock exposure.

Goodyear Tire (NASDAQ:GT) Profile

Goodyear Tire & Rubber CoThe 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.

Goodyear Tire (NASDAQ:GT) traded down -1.14% on 30 March, hitting $35.78. A total of 907,903 shares of the company’s stock traded hands. This is down from average of 2.59M shares. Goodyear Tire has a 52 week low of $24.31 and a 52 week high of $37.2. The company has a market cap of $8.93B and a P/E ratio of 7.51.

Get the latest Goodyear Tire (NASDAQ:GT) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Goodyear Tire (NASDAQ:GT) Decreased by Goldman Sachs to “Neutral” from “Buy” Rating appeared first on Octafinance.

This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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Goodyear Tire (NASDAQ:GT) Decreased by Goldman Sachs to “Neutral” from “Buy” Rating


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