Goodyear Tire & Rubber (NASDAQ:GT) Raised to Buy 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 issued to investors on Tuesday.

Separately, Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Trading Up 1.6 %

Shares of GT opened at $9.99 on Tuesday. The firm’s 50-day moving average is $8.38 and its two-hundred day moving average is $10.17. The firm has a market capitalization of $2.84 billion, a P/E ratio of -9.61 and a beta of 1.69. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $15.24. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

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 the consensus estimate of $0.25 by $0.12. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.69%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. On average, research analysts predict that Goodyear Tire & Rubber will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of large investors have recently bought and sold shares of GT. Family Firm Inc. purchased a new position in Goodyear Tire & Rubber during the second quarter worth approximately $26,000. Mather Group LLC. increased its position in shares of Goodyear Tire & Rubber by 4,526.3% in the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after acquiring an additional 2,580 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Goodyear Tire & Rubber by 2,122.5% in the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after acquiring an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $40,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $57,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

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.