Nomura Thinks GoodYear Tire’s Stock is Going to Recover


In a report released today, Anindya Das from Nomura maintained a Buy rating on GoodYear Tire (GT), with a price target of $11.00. The company’s shares closed last Wednesday at $6.11, close to its 52-week low of $4.10.

According to TipRanks.com, Das is a 2-star analyst with an average return of -2.2% and a 40.0% success rate. Das covers the Consumer Goods sector, focusing on stocks such as Fiat Chrysler Automobiles, General Motors, and Ford Motor.

Currently, the analyst consensus on GoodYear Tire is a Moderate Buy with an average price target of $7.79.

See today’s analyst top recommended stocks >>

Based on GoodYear Tire’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.06 billion and GAAP net loss of $619 million. In comparison, last year the company earned revenue of $3.6 billion and had a GAAP net loss of $61 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Goodyear Tire & Rubber Co. engages in the development, manufactures, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications. The company was founded by Frank A. Seiberling on August 29, 1898 and is headquartered in Akron, OH.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts