Goodyear Tire & Rubber (NASDAQ:GT) Rating Increased to Buy at Argus

Argus upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a buy rating in a report released on Tuesday, Marketbeat reports. The firm currently has $12.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.98.

Goodyear Tire & Rubber Stock Down 0.8 %

GT stock opened at $10.55 on Tuesday. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 43.96 and a beta of 1.79. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86. The firm has a 50-day moving average of $9.04 and a two-hundred day moving average of $8.88.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. As a group, 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

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP boosted its position in shares of Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $46,000. Signaturefd LLC boosted its position in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after buying an additional 1,997 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors 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.