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

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $12.00 price target on the stock. Argus’ price objective indicates a potential upside of 25.26% from the stock’s current price.

Several other brokerages also recently commented on GT. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.98.

Goodyear Tire & Rubber Stock Up 17.3 %

GT opened at $9.58 on Tuesday. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The firm’s fifty day moving average price is $9.01 and its two-hundred day moving average price is $8.85. The company has a market capitalization of $2.73 billion, a P/E ratio of -9.21 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last posted 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. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber in the third quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $46,000. Signaturefd LLC raised its holdings in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after buying an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $54,000. 84.19% of the stock is owned by institutional investors.

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.