Goodyear Tire & Rubber (NASDAQ:GT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a buy rating in a research note released on Friday morning.

GT has been the subject of several other research reports. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Monday, March 31st. Finally, Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $11.01 on Friday. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The company has a 50 day moving average price of $9.57 and a 200 day moving average price of $9.34. The stock has a market capitalization of $3.14 billion, a P/E ratio of 45.88 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT) last posted 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. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Equities research analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GT. Nisa Investment Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 3.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company’s stock valued at $266,000 after acquiring an additional 932 shares during the period. Truist Financial Corp boosted its stake in shares of Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after buying an additional 1,115 shares during the period. Amalgamated Bank grew its holdings in shares of Goodyear Tire & Rubber by 0.9% during the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock worth $1,147,000 after buying an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Goodyear Tire & Rubber by 11.3% during the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock valued at $110,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Barnett & Company Inc. lifted its position in Goodyear Tire & Rubber by 1.4% during the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after acquiring an additional 1,300 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

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.