Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) was upgraded by equities research analysts at BNP Paribas Exane from a "neutral" rating to an "outperform" rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $15.00 price objective on the stock. BNP Paribas Exane's price objective indicates a potential upside of 40.98% from the stock's current price.
A number of other equities analysts have also recently weighed in on the stock. BNP Paribas upgraded shares of Goodyear Tire & Rubber to a "hold" rating in a research report on Saturday, May 24th. TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Monday, March 31st. Finally, Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.17.
Read Our Latest Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Price Performance
Shares of Goodyear Tire & Rubber stock opened at $10.64 on Monday. The firm has a market cap of $3.04 billion, a PE ratio of 44.34 and a beta of 1.40. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $12.58. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $10.50 and a 200 day moving average price of $9.73.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.41 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GT. Nisa Investment Advisors LLC grew its stake in Goodyear Tire & Rubber by 3.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock worth $266,000 after purchasing an additional 932 shares in the last quarter. Truist Financial Corp increased its stake in shares of Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after buying an additional 1,115 shares during the period. Amalgamated Bank raised its holdings in Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company's stock valued at $1,147,000 after acquiring an additional 1,156 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock worth $110,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Barnett & Company Inc. grew its holdings in Goodyear Tire & Rubber by 1.4% during the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock worth $861,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.
About Goodyear Tire & Rubber
(
Get Free Report)
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.
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