Goodyear Tire & Rubber (NASDAQ:GT) Trading Down 3.4% – Should You Sell?

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price was down 3.4% during mid-day trading on Monday . The stock traded as low as $9.40 and last traded at $9.35. Approximately 689,742 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,995,483 shares. The stock had previously closed at $9.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GT shares. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Monday, March 31st. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and an average target price of $13.78.

Goodyear Tire & Rubber Stock Down 3.2 %

The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The stock has a market cap of $2.67 billion, a P/E ratio of 39.00 and a beta of 1.49. The company has a 50-day simple moving average of $9.23 and a two-hundred day simple moving average of $9.15.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Goodyear Tire & Rubber in the fourth quarter worth about $39,626,000. Truist Financial Corp raised its position in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after acquiring an additional 1,115 shares in the last quarter. Barclays PLC raised its position in shares of Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after acquiring an additional 598,330 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after purchasing an additional 86,227 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company’s stock valued at $33,648,000 after purchasing an additional 205,629 shares in the last quarter. 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.