TD Cowen assumed coverage on shares of Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) in a research note issued on Friday, MarketBeat.com reports. The firm set a "buy" rating and a $14.00 price target on the stock. TD Cowen's price objective suggests a potential upside of 43.00% from the stock's previous close.
Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and an average target price of $13.18.
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Goodyear Tire & Rubber Stock Performance
Shares of Goodyear Tire & Rubber stock traded up $0.82 during trading on Friday, reaching $9.79. The company's stock had a trading volume of 8,173,831 shares, compared to its average volume of 5,747,280. The business's 50-day moving average price is $9.11 and its 200-day moving average price is $8.97. The firm has a market cap of $2.79 billion, a PE ratio of 40.79 and a beta of 1.71. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.86. 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 - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion during 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%. Equities analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Fidelity D & D Bancorp Inc. increased its stake in shares of Goodyear Tire & Rubber by 3.2% in the third quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company's stock valued at $283,000 after buying an additional 1,000 shares during the period. Truist Financial Corp boosted its holdings in Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after acquiring an additional 1,115 shares during the last quarter. Amalgamated Bank boosted its holdings in Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company's stock valued at $1,147,000 after acquiring an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock valued at $110,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Barnett & Company Inc. boosted its holdings in Goodyear Tire & Rubber by 1.4% in the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock valued at $861,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.
About Goodyear Tire & Rubber
(
Get Free Report)
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.
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