Goodyear Tire & Rubber (NASDAQ:GT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Goodyear Tire & Rubber (NASDAQ:GTGet Rating) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Several other equities analysts have also recently weighed in on GT. Exane BNP Paribas started coverage on Goodyear Tire & Rubber in a report on Monday, April 11th. They issued a neutral rating for the company. BNP Paribas started coverage on Goodyear Tire & Rubber in a report on Monday, April 11th. They issued a neutral rating for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Goodyear Tire & Rubber from $30.00 to $19.00 and set a buy rating for the company in a report on Thursday, April 21st. TheStreet cut Goodyear Tire & Rubber from a b- rating to a c rating in a report on Wednesday, May 18th. Finally, Jefferies Financial Group cut Goodyear Tire & Rubber from a buy rating to a hold rating and lowered their price target for the stock from $20.00 to $17.00 in a report on Tuesday, February 22nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $17.76.

Shares of NASDAQ GT opened at $11.21 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.65 and a debt-to-equity ratio of 1.40. Goodyear Tire & Rubber has a 12 month low of $10.62 and a 12 month high of $24.89. The stock has a 50 day moving average of $12.47 and a 200-day moving average of $16.07. The company has a market capitalization of $3.17 billion, a P/E ratio of 3.75 and a beta of 1.88.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last released its quarterly earnings results on Friday, May 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Goodyear Tire & Rubber had a return on equity of 11.37% and a net margin of 4.49%. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. Analysts predict that Goodyear Tire & Rubber will post 2.22 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $29,000. First Quadrant LLC CA bought a new stake in shares of Goodyear Tire & Rubber during the 1st quarter valued at about $30,000. Ancora Advisors LLC boosted its position in shares of Goodyear Tire & Rubber by 142.9% during the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC boosted its position in shares of Goodyear Tire & Rubber by 43.1% during the 1st quarter. CWM LLC now owns 2,433 shares of the company’s stock valued at $35,000 after purchasing an additional 733 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

About Goodyear Tire & Rubber (Get Rating)

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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