Goodyear Tire & Rubber (NASDAQ:GT) Raised to Buy at Argus

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $12.00 price target on the stock. Argus’ price target would indicate a potential upside of 25.26% from the company’s previous close.

GT has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.98.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $9.58 on Tuesday. The stock has a market capitalization of $2.73 billion, a P/E ratio of -9.21 and a beta of 1.79. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $13.86. 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 business has a 50-day moving average price of $9.01 and a two-hundred day moving average price 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 for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. Equities analysts predict that Goodyear Tire & Rubber will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of large investors have recently bought and sold shares of GT. Vontobel Holding Ltd. acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth approximately $649,000. Net Worth Advisory Group acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth approximately $184,000. Jade Capital Advisors LLC boosted its position in Goodyear Tire & Rubber by 22.2% during the 3rd quarter. Jade Capital Advisors LLC now owns 110,000 shares of the company’s stock worth $974,000 after acquiring an additional 20,000 shares during the last quarter. International Assets Investment Management LLC boosted its position in Goodyear Tire & Rubber by 2,504.3% during the 3rd quarter. International Assets Investment Management LLC now owns 17,032 shares of the company’s stock worth $1,510,000 after acquiring an additional 16,378 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Goodyear Tire & Rubber by 30.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 234,854 shares of the company’s stock worth $2,078,000 after acquiring an additional 54,806 shares during the last quarter. Institutional investors and hedge funds 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.