Goodyear Tire & Rubber (NASDAQ:GT) Shares Up 4.9% - Still a Buy?

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) rose 4.9% on Friday . The stock traded as high as $9.40 and last traded at $9.41. Approximately 365,529 shares traded hands during trading, a decline of 93% from the average daily volume of 5,563,078 shares. The stock had previously closed at $8.97.

Wall Street Analyst Weigh In

GT has been the subject of several research analyst reports. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th. Finally, TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday. They set a "buy" rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $13.18.

Remove Ads

Goodyear Tire & Rubber Trading Up 9.1 %

The company's fifty day moving average is $9.11 and its two-hundred day moving average is $8.97. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 40.79 and a beta of 1.71. 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 (NASDAQ:GT - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share 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 analysts' expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Victory Capital Management Inc. raised its holdings in Goodyear Tire & Rubber by 3,921.7% during the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company's stock worth $42,051,000 after purchasing an additional 4,633,368 shares in the last quarter. Norges Bank purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $39,626,000. Maple Rock Capital Partners Inc. purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $16,875,000. Atlantic Investment Management Inc. purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $11,803,000. Finally, American Century Companies Inc. grew its position 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 worth $86,871,000 after acquiring an additional 897,463 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

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.