Goodyear Tire & Rubber (NASDAQ:GT) Upgraded to "Strong-Buy" at BNP Paribas

BNP Paribas upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT - Free Report) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. BNP Paribas Exane upgraded Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 target price on the stock in a research report on Monday. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Deutsche Bank Aktiengesellschaft raised shares of 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. Finally, Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.17.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded up $0.16 on Monday, hitting $11.94. 4,592,737 shares of the company were exchanged, compared to its average volume of 5,459,832. The firm has a market capitalization of $3.41 billion, a P/E ratio of 49.75 and a beta of 1.40. 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 1-year low of $7.27 and a 1-year high of $12.58. The stock's 50 day moving average price is $10.55 and its 200 day moving average price is $9.74.

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, topping analysts' consensus estimates of ($0.06) by $0.02. The company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors have recently bought and sold shares of GT. Nisa Investment Advisors LLC raised its position in shares of 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 during the last quarter. Truist Financial Corp grew its stake in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after buying an additional 1,115 shares during the period. Amalgamated Bank increased its stake in Goodyear Tire & Rubber by 0.9% during the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company's stock worth $1,147,000 after acquiring an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 11.3% during the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock worth $110,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Barnett & Company Inc. raised its stake in shares of Goodyear Tire & Rubber by 1.4% in the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock valued at $861,000 after acquiring an additional 1,300 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

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.