Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at Zacks Research

Zacks Research upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on GT. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Citigroup cut their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Morgan Stanley upped their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research report on Friday, November 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.85.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $9.23 on Thursday. The company has a market capitalization of $2.64 billion, a PE ratio of -1.52, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.71 and a current ratio of 1.27. The stock has a fifty day moving average of $8.43 and a 200-day moving average of $8.73. Goodyear Tire & Rubber has a one year low of $6.51 and a one year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the firm posted $0.37 EPS. The company’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several institutional investors and hedge funds have recently bought and sold shares of GT. Vanguard Group Inc. boosted its position in Goodyear Tire & Rubber by 4.2% during the third quarter. Vanguard Group Inc. now owns 27,950,476 shares of the company’s stock valued at $209,070,000 after purchasing an additional 1,130,037 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Goodyear Tire & Rubber by 11.9% in the third quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock valued at $197,333,000 after buying an additional 2,796,332 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Goodyear Tire & Rubber by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 14,704,063 shares of the company’s stock worth $109,988,000 after buying an additional 110,033 shares during the last quarter. American Century Companies Inc. lifted its stake in Goodyear Tire & Rubber by 7.0% in the third quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock valued at $93,180,000 after acquiring an additional 816,703 shares during the last quarter. Finally, Greenvale Capital LLP bought a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at about $106,292,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.