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

StockNews.com upgraded shares of Goodyear Tire & Rubber (NASDAQ:GTFree Report) from a hold rating to a buy rating in a research report report published on Thursday morning.

Separately, HSBC reduced their price target on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a buy rating for the company in a research report on Wednesday, May 8th.

View Our Latest Report on GT

Goodyear Tire & Rubber Trading Down 1.5 %

Shares of GT stock opened at $12.95 on Thursday. The business’s fifty day moving average price is $12.67 and its 200 day moving average price is $13.21. The firm has a market capitalization of $3.69 billion, a PE ratio of -5.73 and a beta of 1.86. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.15 and a quick ratio of 0.60. Goodyear Tire & Rubber has a 1-year low of $11.26 and a 1-year high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted ($0.29) EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Goodyear Tire & Rubber will post 1.24 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several large investors have recently modified their holdings of GT. Raymond James Financial Services Advisors Inc. lifted its stake in Goodyear Tire & Rubber by 29.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 31,282 shares of the company’s stock valued at $389,000 after buying an additional 7,179 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Goodyear Tire & Rubber by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,427 shares of the company’s stock valued at $863,000 after acquiring an additional 9,589 shares during the last quarter. Advisor Partners II LLC increased its position in Goodyear Tire & Rubber by 8.9% during the 3rd quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock worth $171,000 after purchasing an additional 1,127 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Goodyear Tire & Rubber by 30.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,641 shares of the company’s stock valued at $182,000 after purchasing an additional 3,375 shares during the last quarter. Finally, 180 Wealth Advisors LLC purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $202,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

(Get Free Report)

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

Featured Stories

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.