Goodyear Tire & Rubber (NASDAQ:GT) Raised to “Buy” at StockNews.com

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Separately, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.30.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded up $1.41 during trading on Monday, reaching $9.58. The company had a trading volume of 21,664,806 shares, compared to its average volume of 4,298,109. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The stock’s fifty day moving average price is $9.01 and its 200 day moving average price is $8.85. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -9.21 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. As a group, equities research analysts predict that Goodyear Tire & Rubber will post 1.05 EPS for the current year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock valued at $86,871,000 after buying an additional 897,463 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares during the period. Victory Capital Management Inc. increased its stake in Goodyear Tire & Rubber by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock valued at $46,330,000 after purchasing an additional 396,230 shares in the last quarter. Norges Bank purchased a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $39,626,000. Finally, Segall Bryant & Hamill LLC raised its holdings in Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock worth $36,301,000 after purchasing an additional 484,198 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.