Goodyear Tire & Rubber (NASDAQ:GT) Raised to “Buy” at Deutsche Bank Aktiengesellschaft

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a note issued to investors on Monday,Finviz reports. The firm presently has a $13.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 47.90% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price for the company. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Down 3.5 %

GT stock opened at $8.79 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm has a market cap of $2.51 billion, a PE ratio of 36.63 and a beta of 1.71. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $13.78. The company has a fifty day simple moving average of $9.19 and a 200 day simple moving average of $9.06.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 111 Capital acquired a new stake in Goodyear Tire & Rubber in the 4th quarter worth $197,000. Siemens Fonds Invest GmbH lifted its stake in shares of Goodyear Tire & Rubber by 282.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 51,688 shares of the company’s stock valued at $465,000 after buying an additional 38,170 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at about $5,269,000. Public Employees Retirement System of Ohio acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $1,423,000. Finally, GTS Securities LLC increased its position in shares of Goodyear Tire & Rubber by 107.4% during the fourth quarter. GTS Securities LLC now owns 10,178 shares of the company’s stock valued at $92,000 after purchasing an additional 146,848 shares during the period. 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.