Goodyear Tire & Rubber (NASDAQ:GT) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat reports. The firm presently has a $13.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 45.41% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. 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 Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.78.

Goodyear Tire & Rubber Stock Down 3.2 %

Shares of Goodyear Tire & Rubber stock opened at $8.94 on Monday. The business has a 50-day moving average price of $9.18 and a 200 day moving average price of $9.08. Goodyear Tire & Rubber has a fifty-two week low of $7.27 and a fifty-two week high of $13.78. The firm has a market cap of $2.55 billion, a P/E ratio of 37.25 and a beta of 1.71. 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 (NASDAQ:GT) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. On average, sell-side analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several institutional investors have recently modified their holdings of the company. 111 Capital acquired a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $197,000. Siemens Fonds Invest GmbH raised its stake in shares of Goodyear Tire & Rubber by 282.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 51,688 shares of the company’s stock worth $465,000 after buying an additional 38,170 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth about $5,269,000. Public Employees Retirement System of Ohio bought a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $1,423,000. Finally, GTS Securities LLC grew its stake in shares of Goodyear Tire & Rubber by 107.4% in the 4th 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 last quarter. Institutional investors own 84.19% of the company’s stock.

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.