Goodyear Tire & Rubber (NASDAQ:GT) Lifted to Buy at ValuEngine

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Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Saturday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Goodyear Tire & Rubber from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $14.00 in a report on Wednesday. Northcoast Research downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 29th. Nomura initiated coverage on shares of Goodyear Tire & Rubber in a research note on Monday, December 30th. They issued a “buy” rating and a $20.00 target price on the stock. BidaskClub downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 4th. Finally, Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.96.

Shares of Goodyear Tire & Rubber stock opened at $11.10 on Friday. Goodyear Tire & Rubber has a 12-month low of $10.74 and a 12-month high of $20.70. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 13.54 and a beta of 1.70. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $14.16 and its 200-day moving average price is $14.29.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.33). Goodyear Tire & Rubber had a return on equity of 6.50% and a net margin of 1.28%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Goodyear Tire & Rubber will post 1.34 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Ancora Advisors LLC purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. Parallel Advisors LLC grew its holdings in shares of Goodyear Tire & Rubber by 547.1% in the third quarter. Parallel Advisors LLC now owns 2,155 shares of the company’s stock worth $31,000 after purchasing an additional 1,822 shares during the last quarter. Sageworth Trust Co bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $42,000. Global Retirement Partners LLC grew its holdings in shares of Goodyear Tire & Rubber by 28.8% in the third quarter. Global Retirement Partners LLC now owns 2,950 shares of the company’s stock worth $42,000 after purchasing an additional 659 shares during the last quarter. Finally, Howe & Rusling Inc. bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth approximately $50,000. 83.59% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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