Nomura Upgrades Goodyear Tire & Rubber (NASDAQ:GT) to “Buy”

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) was upgraded by stock analysts at Nomura from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.

Several other analysts have also recently commented on the stock. Jefferies Financial Group cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and decreased their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, February 22nd. TheStreet upgraded shares of Goodyear Tire & Rubber from a “c” rating to a “b-” rating in a research note on Friday, February 11th. Zacks Investment Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Tuesday, January 11th. BNP Paribas started coverage on shares of Goodyear Tire & Rubber in a research note on Monday, April 11th. They issued a “neutral” rating for the company. Finally, Morgan Stanley decreased their target price on shares of Goodyear Tire & Rubber from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 16th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.86.

GT stock opened at $11.37 on Tuesday. The firm has a 50 day moving average of $13.54 and a 200 day moving average of $18.20. The stock has a market capitalization of $3.21 billion, a PE ratio of 3.80 and a beta of 1.88. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 1.28. Goodyear Tire & Rubber has a 52 week low of $11.15 and a 52 week high of $24.89.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last announced its quarterly earnings data on Friday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.21 by $0.16. Goodyear Tire & Rubber had a net margin of 4.37% and a return on equity of 12.63%. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the business posted $0.43 EPS. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, equities research analysts expect that Goodyear Tire & Rubber will post 2.33 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Goodyear Tire & Rubber by 41.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,573 shares of the company’s stock worth $28,000 after buying an additional 459 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $29,000. First Quadrant LLC CA acquired a new position in shares of Goodyear Tire & Rubber during the 1st quarter valued at about $30,000. CWM LLC boosted its position in shares of Goodyear Tire & Rubber by 43.1% during the 1st quarter. CWM LLC now owns 2,433 shares of the company’s stock valued at $35,000 after acquiring an additional 733 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $46,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile (Get Rating)

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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