Goodyear Tire & Rubber (NASDAQ:GT) Stock Price Up 4.1% – Still a Buy?

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price rose 4.1% on Thursday . The stock traded as high as $9.46 and last traded at $9.41. Approximately 1,389,271 shares were traded during trading, a decline of 75% from the average daily volume of 5,504,888 shares. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

GT has been the topic of several recent analyst reports. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Performance

The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 38.65 and a beta of 1.71. The stock has a fifty day moving average price of $9.17 and a 200 day moving average price of $8.99.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates 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, analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

Several hedge funds have recently added to or reduced their stakes in GT. Allworth Financial LP lifted its position in shares of Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after buying an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $46,000. Signaturefd LLC lifted its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $54,000. Institutional investors 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.