Goodyear Tire & Rubber (NASDAQ:GT) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Monday,Finviz reports. The firm currently has a $13.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 47.90% from the company’s current price.

Several other equities analysts have also weighed in on the stock. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective for the company. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Down 3.5 %

Goodyear Tire & Rubber stock opened at $8.79 on Monday. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.78. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 36.63 and a beta of 1.71. The company’s 50-day moving average price is $9.19 and its two-hundred day moving average price is $9.06. 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 the consensus estimate of $0.29 by $0.10. The firm 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, analysts expect that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently made changes to their positions in GT. 111 Capital acquired a new position in Goodyear Tire & Rubber during the fourth quarter valued at $197,000. Siemens Fonds Invest GmbH grew its stake in Goodyear Tire & Rubber by 282.4% during the 4th quarter. Siemens Fonds Invest GmbH now owns 51,688 shares of the company’s stock valued at $465,000 after acquiring an additional 38,170 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $5,269,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $1,423,000. Finally, GTS Securities LLC boosted its holdings 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 worth $92,000 after purchasing an additional 146,848 shares during the period. Hedge funds and other 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.