Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Up 4.1% – Still a Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price rose 4.1% on Thursday . The stock traded as high as $9.46 and last traded at $9.41. Approximately 1,389,271 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 5,504,888 shares. The stock had previously closed at $9.04.

Analysts Set New Price Targets

GT has been the topic of several recent research reports. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Argus raised 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. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Stock Performance

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 cap of $2.65 billion, a price-to-earnings ratio of 38.65 and a beta of 1.71. The company has a fifty day moving average price of $9.17 and a two-hundred day moving average price of $8.99.

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. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. As a group, equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently modified their holdings of GT. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $39,626,000. Maple Rock Capital Partners Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $16,875,000. Atlantic Investment Management Inc. acquired a new position in Goodyear Tire & Rubber during the fourth quarter valued at $11,803,000. American Century Companies Inc. raised its position in Goodyear Tire & Rubber by 10.3% during 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 during the period. Finally, Greenvale Capital LLP acquired a new position in Goodyear Tire & Rubber during the fourth quarter valued at $6,750,000. 84.19% of the stock is owned by hedge funds and other 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.