Goodyear Tire & Rubber (NASDAQ:GT) Upgraded 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 released on Monday morning.

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.30.

Goodyear Tire & Rubber Stock Up 17.3 %

Shares of NASDAQ GT opened at $9.58 on Monday. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $13.86. The stock has a market cap of $2.73 billion, a PE ratio of -9.21 and a beta of 1.79. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $9.01 and a 200 day moving average of $8.85.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. As a group, sell-side analysts predict that Goodyear Tire & Rubber will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of institutional investors have recently bought and sold shares of GT. Barclays PLC grew its stake in Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after buying an additional 598,330 shares during the period. Geode Capital Management LLC lifted its position in shares of Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after purchasing an additional 86,227 shares in the last quarter. FMR LLC lifted its position in shares of Goodyear Tire & Rubber by 28.1% during the third quarter. FMR LLC now owns 842,822 shares of the company’s stock worth $7,459,000 after purchasing an additional 184,770 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Goodyear Tire & Rubber during the third quarter worth $649,000. Finally, Landscape Capital Management L.L.C. lifted its position in shares of Goodyear Tire & Rubber by 69.5% during the third quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company’s stock worth $1,264,000 after purchasing an additional 58,526 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

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.