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Equities researchers at Argus increased their price target on shares of The Goodyear Tire & Rubber Company (NYSE:GT) from $24.00 to $31.00 in a research report issued on Monday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Argus’ target price would suggest a potential upside of 16.80% from the company’s current price.

Shares of The Goodyear Tire & Rubber Company (NYSE:GT) opened at 26.54 on Monday. The Goodyear Tire & Rubber Company has a 1-year low of $11.83 and a 1-year high of $27.27. The stock has a 50-day moving average of $24.46 and a 200-day moving average of $22.25. The company has a market cap of $6.584 billion and a P/E ratio of 11.73.

The Goodyear Tire & Rubber Company (NYSE:GT) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.21. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.95 billion. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts predict that The Goodyear Tire & Rubber Company will post $2.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Friday, January 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, January 29th.

In other The Goodyear Tire & Rubber Company news, SVP Joseph B. Ruocco sold 92,884 shares of The Goodyear Tire & Rubber Company stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $26.62, for a total value of $2,472,572.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

GT has been the subject of a number of other recent research reports. Analysts at McLean Capital Management upgraded shares of The Goodyear Tire & Rubber Company from a “sell” rating to a “neutral” rating in a research note on Friday. Separately, analysts at Ned Davis Research upgraded shares of The Goodyear Tire & Rubber Company from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Goodyear Tire & Rubber Company in a research note on Friday, February 14th. They now have a $29.00 price target on the stock, up previously from $26.00. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.50.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company, together with subsidiaries and joint ventures, develops, manufactures, markets and distributes tires for a range of applications.

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