Goodyear Tire & Rubber Co (GT) is Initiated by Jefferies to Buy, Price Target at $36.50

Goodyear Tire & Rubber Co (GT) was Initiated by Jefferies to “Buy” and the brokerage firm has set the Price Target at $36.50. Jefferies advised their investors in a research report released on Nov 29, 2016.

Many Wall Street Analysts have commented on Goodyear Tire & Rubber Co. Goodyear Tire & Rubber Co was Initiated by Berenberg to “Buy” on Nov 22, 2016.

On the company’s financial health, Goodyear Tire & Rubber Co reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 28, 2016. Analyst had a consensus of $1.16. The company had revenue of $3847.00 million for the quarter, compared to analysts expectations of $3972.61 million. The company’s revenue was down -8.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.99 EPS.

Goodyear Tire & Rubber Co opened for trading at $31.06 and hit $31.44 on the upside on Friday, eventually ending the session at $31.16, with a gain of 0.78% or 0.24 points. The heightened volatility saw the trading volume jump to 13,00,856 shares. Company has a market cap of $8,134 M.

In a different news, on Nov 16, 2016, Stephen R Mcclellan (President, Americas) sold 471 shares at $31.07 per share price. According to the SEC, on Aug 16, 2016, Gregory L Smith (Sr VP, Global Operations) sold 35,869 shares at $29.31 per share price. On May 6, 2016, Michael J Morell (director) purchased 875 shares at $27.99 per share price, according to the Form-4 filing with the securities and exchange commission.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development manufacture distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe Middle East and Africa (EMEA); Latin America and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles motorcycles trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear Dunlop Kelly Debica Sava and Fulda brands and various other Goodyear owned-house brands and the private-label brands of certain customers.

Goodyear Tire & Rubber Co

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