Goodyear Tire & Rubber (NASDAQ:GT) Lifted to Buy at ValuEngine

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Saturday, ValuEngine reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Friday, January 3rd. BidaskClub lowered Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Northcoast Research lowered Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 29th. Nomura initiated coverage on Goodyear Tire & Rubber in a research report on Monday, December 30th. They issued a “buy” rating and a $20.00 target price for the company. Finally, JPMorgan Chase & Co. lowered Goodyear Tire & Rubber from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $14.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.96.

GT opened at $11.10 on Friday. The stock has a 50-day moving average price of $14.16 and a 200-day moving average price of $14.29. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.33 and a quick ratio of 0.75. The firm has a market cap of $2.70 billion, a PE ratio of 13.54 and a beta of 1.70. Goodyear Tire & Rubber has a 1 year low of $10.74 and a 1 year high of $20.70.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.33). The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Goodyear Tire & Rubber had a return on equity of 6.50% and a net margin of 1.28%. Goodyear Tire & Rubber’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. As a group, sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.34 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Goodyear Tire & Rubber by 6.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,493 shares of the company’s stock valued at $151,000 after purchasing an additional 627 shares during the period. Global Retirement Partners LLC grew its stake in shares of Goodyear Tire & Rubber by 28.8% during the 3rd quarter. Global Retirement Partners LLC now owns 2,950 shares of the company’s stock valued at $42,000 after acquiring an additional 659 shares during the period. Texas Permanent School Fund grew its stake in shares of Goodyear Tire & Rubber by 0.5% during the 4th quarter. Texas Permanent School Fund now owns 159,075 shares of the company’s stock valued at $2,474,000 after acquiring an additional 812 shares during the period. State of Michigan Retirement System grew its stake in shares of Goodyear Tire & Rubber by 1.5% during the 4th quarter. State of Michigan Retirement System now owns 68,416 shares of the company’s stock valued at $1,064,000 after acquiring an additional 1,000 shares during the period. Finally, World Asset Management Inc grew its stake in shares of Goodyear Tire & Rubber by 3.8% during the 4th quarter. World Asset Management Inc now owns 29,881 shares of the company’s stock valued at $465,000 after acquiring an additional 1,083 shares during the period. Institutional investors and hedge funds own 83.59% 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. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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