Goodyear Tire & Rubber (NASDAQ:GT) Trading Up 3.1% – Should You Buy?

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) were up 3.1% during mid-day trading on Monday . The company traded as high as $9.04 and last traded at $9.07. Approximately 527,247 shares traded hands during trading, a decline of 89% from the average daily volume of 4,655,137 shares. The stock had previously closed at $8.79.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GT. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Up 4.3 %

The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 38.15 and a beta of 1.71. The business has a fifty day simple moving average of $9.19 and a two-hundred day simple moving average of $9.06. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GT. Allworth Financial LP increased its stake in shares of Goodyear Tire & Rubber by 251.8% in the 4th 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 during the period. Wilmington Savings Fund Society FSB acquired a new position in Goodyear Tire & Rubber during the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $46,000. Signaturefd LLC grew its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds 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.