Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at TD Cowen

TD Cowen upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

A number of other analysts have also recently issued reports on GT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Up 9.1 %

GT opened at $9.79 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 40.79 and a beta of 1.71. The business has a 50-day moving average of $9.11 and a two-hundred day moving average of $8.97. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, research analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of GT. Victory Capital Management Inc. raised its position in shares of Goodyear Tire & Rubber by 3,921.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after purchasing an additional 4,633,368 shares in the last quarter. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $39,626,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $16,875,000. Atlantic Investment Management Inc. acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $11,803,000. Finally, American Century Companies Inc. raised its position in shares of Goodyear Tire & Rubber by 10.3% in the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock valued at $86,871,000 after purchasing an additional 897,463 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

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.