Goodyear Tire & Rubber (NASDAQ:GT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT - Free Report) from a hold rating to a buy rating in a research report released on Monday morning.

Separately, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.98.

Goodyear Tire & Rubber Stock Performance

GT stock traded down $0.57 during trading hours on Monday, hitting $9.98. 5,586,269 shares of the stock were exchanged, compared to its average volume of 5,731,269. 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 firm has a market capitalization of $2.84 billion, a P/E ratio of 41.59 and a beta of 1.79. The company has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $8.88. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company's stock valued at $42,051,000 after buying an additional 4,633,368 shares in the last quarter. Norges Bank acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $39,626,000. Maple Rock Capital Partners Inc. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $16,875,000. Atlantic Investment Management Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $11,803,000. Finally, American Century Companies Inc. boosted its stake in shares of Goodyear Tire & Rubber by 10.3% during the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after purchasing an additional 897,463 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

About Goodyear Tire & Rubber

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.