The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) shares traded down 3.4% during trading on Monday . The stock traded as low as $9.40 and last traded at $9.35. 689,742 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 4,995,483 shares. The stock had previously closed at $9.67.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. Finally, TD Cowen assumed 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.78.
Get Our Latest Analysis on GT
Goodyear Tire & Rubber Stock Performance
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 company has a market cap of $2.78 billion, a price-to-earnings ratio of 40.63 and a beta of 1.49. The stock has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $9.18.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released 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. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Goodyear Tire & Rubber by 10.4% in the first quarter. Janney Montgomery Scott LLC now owns 42,801 shares of the company's stock worth $395,000 after purchasing an additional 4,036 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Goodyear Tire & Rubber by 19.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,650 shares of the company's stock worth $182,000 after buying an additional 3,212 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Goodyear Tire & Rubber by 2.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company's stock valued at $677,000 after acquiring an additional 1,621 shares in the last quarter. Net Worth Advisory Group raised its holdings in Goodyear Tire & Rubber by 69.6% during the first quarter. Net Worth Advisory Group now owns 20,715 shares of the company's stock worth $191,000 after acquiring an additional 8,499 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Goodyear Tire & Rubber during the first quarter valued at approximately $537,000. Institutional investors and hedge funds own 84.19% of the company's stock.
About Goodyear Tire & Rubber
(
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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