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

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also recently weighed in on GT. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price target 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, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Up 9.1 %

Shares of GT stock opened at $9.79 on Thursday. The company has a 50 day simple moving average of $9.09 and a two-hundred day simple moving average of $8.96. The stock has a market cap of $2.79 billion, a P/E ratio of 40.79 and a beta of 1.79. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion for 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.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its stake in Goodyear Tire & Rubber by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock valued at $290,000 after acquiring an additional 2,245 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Goodyear Tire & Rubber by 20.9% during the 3rd quarter. US Bancorp DE now owns 18,281 shares of the company’s stock valued at $162,000 after purchasing an additional 3,163 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Goodyear Tire & Rubber during the third quarter valued at about $92,000. Barnett & Company Inc. grew its position in shares of Goodyear Tire & Rubber by 19.8% during the third quarter. Barnett & Company Inc. now owns 94,400 shares of the company’s stock valued at $835,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after purchasing an additional 4,633,368 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

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.