The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report)'s stock price traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $8.91 and last traded at $8.95. 2,723,175 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 4,892,220 shares. The stock had previously closed at $8.48.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on GT shares. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a report on Monday, March 31st. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a 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 target price for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.78.
Check Out Our Latest Stock Analysis on GT
Goodyear Tire & Rubber Stock Performance
The stock's fifty day simple moving average is $9.24 and its two-hundred day simple moving average is $9.16. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 39.38 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results 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%. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of GT. American Century Companies Inc. grew 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 in the last quarter. Geode Capital Management LLC grew its position in Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after acquiring an additional 86,227 shares in the last quarter. Victory Capital Management Inc. grew its position in Goodyear Tire & Rubber by 8.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock valued at $46,330,000 after acquiring an additional 396,230 shares in the last quarter. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $39,626,000. Finally, Northern Trust Corp lifted 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 worth $35,472,000 after purchasing an additional 573,541 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.
Goodyear Tire & Rubber Company Profile
(
Get Free Report)
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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