Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT - Free Report) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $13.00 price target on the stock.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and an average target price of $13.78.

Goodyear Tire & Rubber Trading Down 6.5 %

GT stock traded down $0.66 during midday trading on Monday, hitting $9.53. The stock had a trading volume of 5,496,610 shares, compared to its average volume of 4,795,671. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The business has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $9.09. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $13.78. The firm has a market cap of $2.72 billion, a P/E ratio of 39.61 and a beta of 1.49.

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. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. On average, sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently made changes to their positions in GT. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Goodyear Tire & Rubber during the third quarter worth about $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $46,000. Signaturefd LLC grew its position in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after purchasing an additional 1,997 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $54,000. 84.19% of the stock is owned by 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.