Goodyear Tire & Rubber (NASDAQ:GT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Goodyear Tire & Rubber (NASDAQ:GTGet Rating) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Several other brokerages have also weighed in on GT. Nomura raised Goodyear Tire & Rubber from a neutral rating to a buy rating and increased their price objective for the company from $15.00 to $15.30 in a report on Tuesday, May 10th. Exane BNP Paribas initiated coverage on Goodyear Tire & Rubber in a report on Monday, April 11th. They set a neutral rating for the company. Jefferies Financial Group lowered Goodyear Tire & Rubber from a buy rating to a hold rating and reduced their price objective for the company from $20.00 to $17.00 in a report on Tuesday, February 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Goodyear Tire & Rubber from $30.00 to $19.00 and set a buy rating for the company in a report on Thursday, April 21st. Finally, TheStreet lowered Goodyear Tire & Rubber from a b- rating to a c rating in a report on Wednesday, May 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $17.76.

GT stock opened at $11.21 on Tuesday. The firm has a market cap of $3.17 billion, a PE ratio of 3.75 and a beta of 1.88. The company has a quick ratio of 0.65, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The business has a 50 day moving average of $12.47 and a 200-day moving average of $16.07. Goodyear Tire & Rubber has a 12-month low of $10.62 and a 12-month high of $24.89.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last released its earnings results on Friday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.19. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.70 billion. Goodyear Tire & Rubber had a return on equity of 11.37% and a net margin of 4.49%. Goodyear Tire & Rubber’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. On average, research analysts expect that Goodyear Tire & Rubber will post 2.22 earnings per share for the current year.

Several hedge funds have recently modified their holdings of GT. Stonehill Capital Management LLC purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $67,178,000. BlackRock Inc. raised its position in shares of Goodyear Tire & Rubber by 7.6% in the first quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock worth $511,113,000 after buying an additional 2,528,942 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Goodyear Tire & Rubber in the first quarter worth $29,452,000. Cannell & Co. raised its position in shares of Goodyear Tire & Rubber by 568.6% in the fourth quarter. Cannell & Co. now owns 2,361,158 shares of the company’s stock worth $50,340,000 after buying an additional 2,008,005 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its position in Goodyear Tire & Rubber by 969.1% during the third quarter. Balyasny Asset Management LLC now owns 1,608,837 shares of the company’s stock valued at $28,476,000 after purchasing an additional 1,458,349 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

Goodyear Tire & Rubber Company Profile (Get Rating)

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

Featured Stories

Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.