CLSA Maintains Goodyear Tire & Rubber Co to Perform with Price Target $37.00

Brokerage firm CLSA Maintains its rating on Goodyear Tire & Rubber Co(NASDAQ:GT). In a research note issued to the investors, the brokerage major Raises the price-target to $37.00 per share. The shares have been rated Perform. The rating by CLSA was issued on Sep 16, 2016.

In a different note, On Sep 6, 2016, Deutsche Bank said it Upgrades its rating on Goodyear Tire & Rubber Co. The shares have been rated ‘Buy’ by the firm. On Jul 28, 2016, Citigroup said it Maintains its rating on Goodyear Tire & Rubber Co. In the research note, the firm Raises the price-target to $36.00 per share. The shares have been rated ‘Buy’ by the firm.

Goodyear Tire & Rubber Co (GT) made into the market gainers list on Thursdays trading session with the shares advancing 1.15% or 0.37 points. Due to strong positive momentum, the stock ended at $32.42, which is also near the day’s high of $32.59. The stock began the session at $32.23 and the volume stood at 25,44,160 shares. The 52-week high of the shares is $35.3 and the 52 week low is $24.306. The company has a current market capitalization of $8,509 M and it has 26,24,48,050 shares in outstanding.

Goodyear Tire & Rubber Co has also declared a cash dividend of $0.1000 on Sep 15, 2016. The shares will quote ex-dividend on Oct 28, 2016 and the record date has been fixed on Nov 1, 2016. The dividend payable date has been fixed on Dec 1, 2016.

Goodyear Tire & Rubber Co(GT) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.88B. Analysts had an estimated revenue of $3.93B. Earnings per share were $1.16. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported to the SEC. On Aug 16, 2016, Gregory L Smith (Sr VP, Global Operations) sold 35,869 shares at $29.31 per share price.Also, On May 6, 2016, Michael J Morell (director) purchased 875 shares at $27.99 per share price.On Feb 3, 2016, Richard J Kramer (Chairman of the Bd, CEO & Pres) sold 29,000 shares at $28.04 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.

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