Goodyear Tire & Rubber (NASDAQ:GT) Trading Down 6.4% - Here's Why

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) shares traded down 6.4% during trading on Monday . The company traded as low as $9.13 and last traded at $9.08. 2,513,509 shares traded hands during trading, a decline of 48% from the average session volume of 4,837,675 shares. The stock had previously closed at $9.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GT shares. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 target price on the stock. Argus upgraded 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, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and an average target price of $13.78.

Goodyear Tire & Rubber Price Performance

The stock's 50 day moving average price is $9.23 and its two-hundred day moving average price is $9.15. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 40.29 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released 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 company had revenue of $4.95 billion during 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, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings 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 purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Goodyear Tire & Rubber during the third quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $46,000. Signaturefd LLC boosted its stake in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after buying an additional 1,997 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Goodyear Tire & Rubber by 72.8% in the first quarter. Parallel Advisors LLC now owns 5,822 shares of the company's stock valued at $54,000 after acquiring an additional 2,452 shares during the period. 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.