Goodyear Tire & Rubber (NASDAQ:GT) Lowered to "Hold" Rating by StockNews.com

StockNews.com cut shares of Goodyear Tire & Rubber (NASDAQ:GT - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a research report on Monday, March 31st. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a research report on Tuesday, February 18th. Finally, TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 target price for the company. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.25.

Goodyear Tire & Rubber Trading Up 1.0%

Shares of NASDAQ:GT traded up $0.11 during mid-day trading on Friday, reaching $10.97. 9,572,011 shares of the company's stock were exchanged, compared to its average volume of 5,199,061. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $13.26. The business's fifty day moving average price is $9.80 and its 200-day moving average price is $9.46. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 45.71 and a beta of 1.42.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm's revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. On average, research analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares during the last quarter. UMB Bank n.a. boosted its position in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after buying an additional 1,748 shares during the period. Cloud Capital Management LLC acquired a new stake in Goodyear Tire & Rubber in the 1st quarter valued at about $33,000. Farther Finance Advisors LLC grew its holdings in Goodyear Tire & Rubber by 1,799.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after acquiring an additional 3,868 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after buying an additional 3,059 shares in the last quarter. 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.