Goodyear Tire & Rubber (NASDAQ:GT) Trading Up 6.2% - Should You Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) shares were up 6.2% during trading on Tuesday . The stock traded as high as $11.45 and last traded at $11.57. Approximately 728,061 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 5,760,362 shares. The stock had previously closed at $10.89.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. BNP Paribas Exane raised Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price target on the stock in a research note on Monday, June 9th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a report on Monday, March 31st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of "Buy" and an average price target of $14.20.

Goodyear Tire & Rubber Stock Up 6.6%

The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 0.33 and a beta of 1.35. The stock has a fifty day moving average of $10.94 and a two-hundred day moving average of $9.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.22 and a quick ratio of 0.64.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 11.7% during the 1st quarter. American Century Companies Inc. now owns 10,786,387 shares of the company's stock worth $99,666,000 after acquiring an additional 1,134,058 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 1.9% during the 1st quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company's stock worth $48,489,000 after acquiring an additional 99,933 shares during the last quarter. Norges Bank bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth $39,626,000. Northern Trust Corp lifted its stake in Goodyear Tire & Rubber by 17.0% in the fourth quarter. Northern Trust Corp now owns 3,941,378 shares of the company's stock worth $35,472,000 after purchasing an additional 573,541 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Goodyear Tire & Rubber by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company's stock worth $35,122,000 after purchasing an additional 62,499 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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