Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a buy rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $13.00 target price on the stock.

Several other research analysts have also recently issued reports on the company. 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 price objective on the stock. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

Goodyear Tire & Rubber Stock Up 2.0 %

Shares of GT opened at $9.12 on Monday. The company has a market capitalization of $2.60 billion, a PE ratio of 38.00 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $13.78. The business’s 50 day moving average is $9.18 and its 200 day moving average is $9.08.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.91 billion. Research analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. lifted its position in shares of Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after purchasing an additional 897,463 shares during the last quarter. Geode Capital Management LLC raised its stake in Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after buying an additional 86,227 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Goodyear Tire & Rubber by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock worth $46,330,000 after buying an additional 396,230 shares during the last quarter. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth about $39,626,000. Finally, Northern Trust Corp boosted its position in shares of Goodyear Tire & Rubber by 17.0% during the 4th quarter. Northern Trust Corp now owns 3,941,378 shares of the company’s stock worth $35,472,000 after acquiring an additional 573,541 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.