Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Up 3.8% – Still a Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT) shares were up 3.8% during trading on Tuesday . The stock traded as high as $9.09 and last traded at $9.09. Approximately 369,210 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 4,312,383 shares. The stock had previously closed at $8.76.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GT shares. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Finally, StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $13.30.

Goodyear Tire & Rubber Price Performance

The company has a 50-day moving average of $9.37 and a 200 day moving average of $9.46. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $2.60 billion, a PE ratio of -8.79 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its 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. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GT. Sound Income Strategies LLC grew its holdings in shares of Goodyear Tire & Rubber by 2,122.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after purchasing an additional 3,778 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Goodyear Tire & Rubber during the third quarter worth about $45,000. Private Trust Co. NA increased its position in shares of Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock valued at $62,000 after acquiring an additional 3,700 shares during the last quarter. AM Squared Ltd purchased a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $92,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth approximately $92,000. Institutional investors and hedge funds 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.