Goodyear Tire & Rubber (NASDAQ:GT) Upgraded 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 published on Tuesday morning.

Separately, Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.23.

Goodyear Tire & Rubber Price Performance

GT stock opened at $9.83 on Tuesday. The stock has a market capitalization of $2.80 billion, a PE ratio of -9.45 and a beta of 1.69. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $15.24. The company’s 50-day moving average is $8.36 and its 200-day moving average is $10.18. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.69% and a negative net margin of 1.56%. Goodyear Tire & Rubber’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. Equities research analysts expect that Goodyear Tire & Rubber will post 1.06 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GT. Covestor Ltd lifted its position in Goodyear Tire & Rubber by 33.6% during the first quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after buying an additional 1,284 shares during the period. Texas Permanent School Fund Corp boosted its stake in Goodyear Tire & Rubber by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after acquiring an additional 1,475 shares in the last quarter. Arizona State Retirement System grew its holdings in Goodyear Tire & Rubber by 2.1% in the second quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after purchasing an additional 1,621 shares during the period. Innealta Capital LLC increased its stake in shares of Goodyear Tire & Rubber by 12.2% during the first quarter. Innealta Capital LLC now owns 15,261 shares of the company’s stock valued at $210,000 after purchasing an additional 1,654 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Goodyear Tire & Rubber by 5.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $495,000 after purchasing an additional 1,925 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.