Fintel reports that on December 4, 2023, HSBC initiated coverage of Goodyear Tire & Rubber (NASDAQ:GT) with a Buy recommendation.
Analyst Price Forecast Suggests 17.08% Upside
As of November 27, 2023, the average one-year price target for Goodyear Tire & Rubber is 16.66. The forecasts range from a low of 13.13 to a high of $22.05. The average price target represents an increase of 17.08% from its latest reported closing price of 14.23.
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The projected annual revenue for Goodyear Tire & Rubber is 22,093MM, an increase of 8.70%. The projected annual non-GAAP EPS is 1.85.
What is the Fund Sentiment?
There are 762 funds or institutions reporting positions in Goodyear Tire & Rubber. This is an increase of 37 owner(s) or 5.10% in the last quarter. Average portfolio weight of all funds dedicated to GT is 0.17%, an increase of 8.86%. Total shares owned by institutions increased in the last three months by 4.62% to 264,951K shares. 
The put/call ratio of GT is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 10,109K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
IJH - iShares Core S&P Mid-Cap ETF holds 8,860K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 8,598K shares, representing an increase of 2.96%. The firm decreased its portfolio allocation in GT by 8.24% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,845K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 8,837K shares, representing an increase of 0.09%. The firm decreased its portfolio allocation in GT by 5.61% over the last quarter.
Nomura Holdings holds 8,317K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 10,480K shares, representing a decrease of 26.00%. The firm decreased its portfolio allocation in GT by 39.24% over the last quarter.
Alliancebernstein holds 8,093K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 8,325K shares, representing a decrease of 2.86%. The firm decreased its portfolio allocation in GT by 21.14% over the last quarter.
Goodyear Tire & Rubber Background Information
(This description is provided by the company.)
Goodyear is one of the world’s largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.
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This story originally appeared on Fintel.
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