Goodyear Tire & Rubber (NASDAQ:GT) Upgraded 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 Monday morning.

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price 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 three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.98.

Goodyear Tire & Rubber Stock Up 2.8 %

NASDAQ GT opened at $10.63 on Monday. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $13.86. The stock has a market cap of $3.03 billion, a PE ratio of 44.29 and a beta of 1.79. The firm has a 50-day simple moving average of $9.03 and a 200 day simple moving average of $8.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, research analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP increased its stake in 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 buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber during the third quarter worth about $45,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $46,000. Signaturefd LLC boosted its position in Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $54,000. 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.