Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at Argus

Argus upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $12.00 price objective on the stock.

Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.98.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $10.55 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $9.04 and its 200-day simple moving average is $8.88. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $13.86. The company has a market cap of $3.01 billion, a PE ratio of 43.96 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results 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 return on equity of 6.21% and a net margin of 0.37%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently modified their holdings of GT. Barclays PLC lifted its stake in Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after buying an additional 598,330 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 valued at $62,438,000 after buying an additional 86,227 shares in the last quarter. FMR LLC lifted its stake in Goodyear Tire & Rubber by 28.1% in the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after buying an additional 184,770 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $649,000. Finally, Landscape Capital Management L.L.C. lifted its stake in Goodyear Tire & Rubber by 69.5% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company’s stock valued at $1,264,000 after buying an additional 58,526 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

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.