TD Cowen Upgrades Goodyear Tire & Rubber (NASDAQ:GT) to “Strong-Buy”

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

GT has been the subject of several other reports. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective 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, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $9.79 on Thursday. 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 stock has a market cap of $2.79 billion, a PE ratio of 40.79 and a beta of 1.79. The stock has a 50-day moving average of $9.09 and a 200-day moving average of $8.96. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 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 return on equity of 6.21% and a net margin of 0.37%. As a group, sell-side analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several large investors have recently made changes to their positions in GT. Allworth Financial LP raised its stake 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 acquiring an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $46,000. Signaturefd LLC raised 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 acquiring an additional 1,997 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.