Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Up 4.9% – What’s Next?

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price shot up 4.9% during trading on Friday . The stock traded as high as $9.40 and last traded at $9.41. 365,529 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 5,563,078 shares. The stock had previously closed at $8.97.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. 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 research note on Tuesday, February 18th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research report on Friday. They set a “buy” rating and a $14.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Trading Up 5.0 %

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 company has a market capitalization of $2.68 billion, a P/E ratio of 39.24 and a beta of 1.79. The firm has a fifty day moving average price of $9.09 and a 200-day moving average price of $8.96.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data 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 business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelity D & D Bancorp Inc. boosted its stake in Goodyear Tire & Rubber by 3.2% during the third quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock valued at $283,000 after buying an additional 1,000 shares during the period. Truist Financial Corp increased its position in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after purchasing an additional 1,115 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Goodyear Tire & Rubber by 0.9% in the 4th quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock worth $1,147,000 after buying an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC raised its position in Goodyear Tire & Rubber by 11.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock valued at $110,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Barnett & Company Inc. raised its stake in shares of Goodyear Tire & Rubber by 1.4% during the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after acquiring an additional 1,300 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

About Goodyear Tire & Rubber

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.