Goodyear Tire & Rubber (NASDAQ:GT) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on GT. TD Cowen initiated coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, March 31st. Wall Street Zen downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.17.

Goodyear Tire & Rubber Stock Down 2.8%

NASDAQ GT opened at $11.60 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $12.58. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 48.34 and a beta of 1.40. The company has a fifty day moving average of $10.62 and a two-hundred day moving average of $9.77.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. On average, analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of Goodyear Tire & Rubber by 11.7% during the 1st quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock worth $99,666,000 after purchasing an additional 1,134,058 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Goodyear Tire & Rubber by 1.9% in the first quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company’s stock worth $48,489,000 after purchasing an additional 99,933 shares in the last quarter. Norges Bank bought a new position in Goodyear Tire & Rubber in the fourth quarter worth about $39,626,000. Northern Trust Corp lifted its position in shares of Goodyear Tire & Rubber by 17.0% during the fourth quarter. Northern Trust Corp now owns 3,941,378 shares of the company’s stock valued at $35,472,000 after buying an additional 573,541 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock valued at $35,122,000 after buying an additional 62,499 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

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.