Goodyear Tire & Rubber (NASDAQ:GT) Raised to "Buy" at Argus

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) was upgraded by investment analysts at Argus from a "hold" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has a $12.00 price target on the stock. Argus' target price indicates a potential upside of 20.24% from the stock's current price.

Several other analysts also recently commented on GT. Deutsche Bank Aktiengesellschaft restated 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 upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and an average target price of $12.98.

Goodyear Tire & Rubber Stock Performance

GT traded down $0.57 during trading on Tuesday, hitting $9.98. The company's stock had a trading volume of 5,588,594 shares, compared to its average volume of 5,731,385. 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 has a one year low of $7.27 and a one year high of $13.86. The firm has a market cap of $2.84 billion, a PE ratio of 41.59 and a beta of 1.79. The business's 50 day simple moving average is $9.04 and its 200-day simple moving average is $8.89.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. As a group, sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Several institutional investors have recently bought and sold shares of GT. Allworth Financial LP grew its stake in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after acquiring an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth $46,000. Signaturefd LLC grew its stake in shares of Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after buying an additional 1,997 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth $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.