Goodyear Tire & Rubber (NASDAQ:GT) Stock Rating Upgraded by Wall Street Zen

Goodyear Tire & Rubber (NASDAQ:GT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Citigroup decreased their price target on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. TD Cowen decreased their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.54.

Goodyear Tire & Rubber Stock Up 0.9%

GT stock opened at $5.71 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -0.79 and a beta of 1.12. The business’s fifty day moving average price is $6.47 and its two-hundred day moving average price is $7.84. Goodyear Tire & Rubber has a fifty-two week low of $5.43 and a fifty-two week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. On average, equities analysts anticipate that Goodyear Tire & Rubber will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GT. AQR Capital Management LLC increased its position in shares of Goodyear Tire & Rubber by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company’s stock worth $85,540,000 after purchasing an additional 5,886,935 shares during the period. Wellington Management Group LLP increased its position in shares of Goodyear Tire & Rubber by 11.9% in the third quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock worth $197,333,000 after purchasing an additional 2,796,332 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth $17,686,000. Bridgeway Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth $15,280,000. Finally, Invenomic Capital Management LP bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth $13,753,000. Institutional investors own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.