Goodyear Tire & Rubber (NASDAQ:GT) Upgraded by BNP Paribas Exane to “Outperform” Rating

BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a neutral rating to an outperform rating in a research note released on Monday, Marketbeat.com reports. BNP Paribas Exane currently has $15.00 price target on the stock.

A number of other equities research analysts have also issued reports on the company. BNP Paribas raised Goodyear Tire & Rubber to a “hold” rating in a research report on Saturday, May 24th. Deutsche Bank Aktiengesellschaft upgraded 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. Argus upgraded 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. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Wall Street Zen cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.17.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $11.78 on Monday. The firm has a market cap of $3.37 billion, a P/E ratio of 49.09 and a beta of 1.40. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $12.58. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm’s 50 day moving average price is $10.55 and its two-hundred day moving average price is $9.74.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. On average, analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Goodyear Tire & Rubber by 11.7% during the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock worth $99,666,000 after purchasing an additional 1,134,058 shares during the period. Victory Capital Management Inc. lifted its stake 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 buying 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 about $39,626,000. Northern Trust Corp grew its stake in Goodyear Tire & Rubber by 17.0% in the 4th quarter. Northern Trust Corp now owns 3,941,378 shares of the company’s stock valued at $35,472,000 after buying an additional 573,541 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Goodyear Tire & Rubber by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock valued at $35,122,000 after acquiring an additional 62,499 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

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.