Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at StockNews.com

StockNews.com upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a buy rating in a research note issued to investors on Monday.

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price target 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.98.

Goodyear Tire & Rubber Trading Up 2.8 %

Shares of GT stock opened at $10.63 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The firm’s 50 day moving average price is $9.03 and its two-hundred day moving average price is $8.87. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 44.29 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. On average, analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of large investors have recently made changes to their positions in GT. Fidelity D & D Bancorp Inc. raised its stake in shares of Goodyear Tire & Rubber by 3.2% in the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock valued at $283,000 after acquiring an additional 1,000 shares in the last quarter. Truist Financial Corp raised its position in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after purchasing an additional 1,115 shares during the period. Amalgamated Bank lifted its stake in shares of Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock worth $1,147,000 after buying an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Goodyear Tire & Rubber by 11.3% during the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after buying an additional 1,209 shares during the period. Finally, Barnett & Company Inc. grew its stake in Goodyear Tire & Rubber by 1.4% in the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock valued at $861,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds 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.