Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Up 3.8% - Should You Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) shares shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $9.09 and last traded at $9.09. 369,210 shares traded hands during trading, a decline of 91% from the average session volume of 4,312,383 shares. The stock had previously closed at $8.76.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GT shares. Wolfe Research cut shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Finally, StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber has an average rating of "Hold" and an average target price of $13.30.

Goodyear Tire & Rubber Trading Up 2.7 %

The firm has a market cap of $2.56 billion, a P/E ratio of -8.65 and a beta of 1.77. The business's 50 day moving average is $9.37 and its 200-day moving average is $9.46. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company's revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its stake in Goodyear Tire & Rubber by 4.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company's stock valued at $306,000 after buying an additional 1,434 shares in the last quarter. Fidelity D & D Bancorp Inc. boosted its position in shares of Goodyear Tire & Rubber by 3.2% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company's stock valued at $283,000 after purchasing an additional 1,000 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Goodyear Tire & Rubber by 11.0% in the 3rd quarter. Franklin Resources Inc. now owns 135,131 shares of the company's stock worth $1,139,000 after purchasing an additional 13,349 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Finally, Geode Capital Management LLC lifted its stake in Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after purchasing an additional 86,227 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Company Profile

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 rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.