Goodyear Tire & Rubber (NASDAQ:GT) Trading Up 4.9% – Time to Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT) rose 4.9% during trading on Friday . The company traded as high as $9.40 and last traded at $9.41. Approximately 365,529 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 5,563,078 shares. The stock had previously closed at $8.97.

Analyst Ratings Changes

GT has been the topic of a number of recent research reports. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research note on Friday. They issued a “buy” rating and a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber Trading Up 9.1 %

The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The business’s 50 day moving average price is $9.11 and its 200-day moving average price is $8.97. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 40.79 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Goodyear Tire & Rubber by 10.3% during the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after buying an additional 897,463 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after buying an additional 86,227 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Goodyear Tire & Rubber by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock worth $46,330,000 after buying an additional 396,230 shares in the last quarter. Norges Bank purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $39,626,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock worth $36,301,000 after buying an additional 484,198 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

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.