The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) shares traded up 4.1% during trading on Thursday . The company traded as high as $9.46 and last traded at $9.41. 1,389,271 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 5,504,888 shares. The stock had previously closed at $9.04.
Analyst Ratings Changes
Several analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research note on Tuesday, February 18th. 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, TD Cowen started coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. Three 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.18.
Check Out Our Latest Research Report on GT
Goodyear Tire & Rubber Price Performance
The stock has a market cap of $2.71 billion, a PE ratio of 39.61 and a beta of 1.71. 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 business has a 50 day moving average price of $9.19 and a two-hundred day moving average price of $9.01.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Goodyear Tire & Rubber
A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after buying an additional 897,463 shares during the period. Geode Capital Management LLC lifted its holdings 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. Victory Capital Management Inc. boosted its position in Goodyear Tire & Rubber by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after purchasing an additional 396,230 shares during the period. Norges Bank purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at $39,626,000. Finally, Northern Trust Corp increased its position in shares of Goodyear Tire & Rubber by 17.0% during the fourth 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 period. Institutional investors own 84.19% of the company's stock.
Goodyear Tire & Rubber Company Profile
(
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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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