The Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Other equities analysts also recently issued reports about the company. Morgan Stanley reiterated a “buy” rating and set a $46.00 target price on shares of The Goodyear Tire & Rubber in a research report on Monday, September 11th. Jefferies Group set a $36.00 target price on The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Monday, August 7th. KeyCorp reiterated a “buy” rating and issued a $37.00 target price on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Zacks Investment Research lowered The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $37.70.

Shares of The Goodyear Tire & Rubber (NASDAQ GT) traded down $0.25 during mid-day trading on Friday, reaching $32.12. The company had a trading volume of 4,018,855 shares, compared to its average volume of 2,706,845. The Goodyear Tire & Rubber has a 52-week low of $28.81 and a 52-week high of $37.20. The firm has a market capitalization of $7,912.02, a price-to-earnings ratio of 10.36, a PEG ratio of 0.90 and a beta of 1.53. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The Goodyear Tire & Rubber’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share. equities research analysts anticipate that The Goodyear Tire & Rubber will post 2.88 earnings per share for the current year.

In related news, SVP Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $30.53, for a total transaction of $228,975.00. Following the completion of the sale, the senior vice president now owns 59,348 shares of the company’s stock, valued at $1,811,894.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 22,500 shares of company stock worth $721,725 over the last 90 days. Insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of GT. Benjamin F. Edwards & Company Inc. grew its stake in shares of The Goodyear Tire & Rubber by 143.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock valued at $152,000 after purchasing an additional 2,682 shares during the period. Schroder Investment Management Group acquired a new position in The Goodyear Tire & Rubber during the 2nd quarter worth $160,000. Dynamic Technology Lab Private Ltd acquired a new position in The Goodyear Tire & Rubber during the 3rd quarter worth $205,000. Pacer Advisors Inc. lifted its holdings in The Goodyear Tire & Rubber by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock worth $206,000 after buying an additional 457 shares in the last quarter. Finally, Westover Capital Advisors LLC lifted its holdings in The Goodyear Tire & Rubber by 5.7% during the 2nd quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock worth $215,000 after buying an additional 330 shares in the last quarter. 94.75% of the stock is owned by institutional investors and hedge funds.

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About The Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

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