Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat.com reports. BNP Paribas Exane currently has $15.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. BNP Paribas raised shares of Goodyear Tire & Rubber to a “hold” rating in a research report on Saturday, May 24th. Wall Street Zen cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Monday, March 31st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average target price of $14.17.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $11.60 on Monday. 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 firm’s 50 day moving average price is $10.62 and its 200-day moving average price is $9.77. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $12.58. The company has a market cap of $3.31 billion, a PE ratio of 48.34 and a beta of 1.40.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after purchasing an additional 1,674 shares during the period. UMB Bank n.a. raised its stake in Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock worth $29,000 after purchasing an additional 1,748 shares during the period. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber during the first quarter worth about $33,000. Farther Finance Advisors LLC raised its stake in shares of Goodyear Tire & Rubber by 1,799.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock valued at $37,000 after acquiring an additional 3,868 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the period. Institutional investors and hedge funds 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.