Goodyear Tire & Rubber (NASDAQ:GT) Upgraded by StockNews.com to Buy Rating

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Trading Up 3.0 %

GT stock opened at $9.51 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $15.24. The firm has a 50 day simple moving average of $8.32 and a two-hundred day simple moving average of $10.19.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping 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 6.69%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.06 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Institutional investors have recently made changes to their positions in the business. Family Firm Inc. purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $26,000. Mather Group LLC. boosted its stake in shares of Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after purchasing an additional 2,580 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after purchasing an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at $40,000. Finally, MUFG Securities EMEA plc bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at $57,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

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.