Goodyear Tire & Rubber (NASDAQ:GT) Raised to “Strong-Buy” at TD Cowen

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by investment analysts at TD Cowen to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Finally, Argus upgraded 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 research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber Stock Up 9.1 %

GT opened at $9.79 on Thursday. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm’s fifty day moving average price is $9.09 and its two-hundred day moving average price is $8.96. The company has a market capitalization of $2.79 billion, a P/E ratio of 40.79 and a beta of 1.79.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber during the 3rd quarter worth about $45,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth about $46,000. Signaturefd LLC raised its holdings in Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth about $54,000. 84.19% of the stock is owned by 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.