Goodyear Tire & Rubber (NASDAQ:GT) Sees Large Volume Increase – Should You Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT) saw unusually-strong trading volume on Thursday . Approximately 4,399,720 shares changed hands during trading, a decline of 7% from the previous session’s volume of 4,718,181 shares.The stock last traded at $10.16 and had previously closed at $9.12.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GT shares. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 target price for the company. 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 research note on Tuesday, February 18th. Two equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Price Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The stock has a market capitalization of $2.77 billion, a PE ratio of 40.42 and a beta of 1.49. The company has a 50-day moving average of $9.20 and a two-hundred day moving average of $9.10.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in shares of 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 purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $46,000. Signaturefd LLC grew its stake in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $54,000. 84.19% of the stock is 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.