An issue of Goodyear Tire & Rubber Co (NASDAQ:GT) debt fell 0.8% against its face value during trading on Thursday. The debt issue has a 5.125% coupon and is set to mature on November 15, 2023. The debt is now trading at $102.99 and was trading at $104.63 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $36.00 price target on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Guggenheim downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a report on Wednesday, November 1st. BidaskClub raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Goodyear Tire & Rubber has an average rating of “Hold” and a consensus target price of $37.70.

Shares of Goodyear Tire & Rubber Co (GT) traded up $0.32 during trading hours on Friday, reaching $33.91. 4,295,091 shares of the company’s stock traded hands, compared to its average volume of 2,293,157. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. Goodyear Tire & Rubber Co has a twelve month low of $28.81 and a twelve month high of $37.20. The stock has a market capitalization of $8,274.13, a P/E ratio of 8.76, a P/E/G ratio of 0.72 and a beta of 1.53.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. research analysts expect that Goodyear Tire & Rubber Co will post 2.88 EPS for the current year.

In other news, SVP Jean Claude Kihn sold 7,500 shares of Goodyear Tire & Rubber stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $32.12, for a total transaction of $240,900.00. Following the sale, the senior vice president now owns 51,848 shares in the company, valued at $1,665,357.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Goodyear Tire & Rubber by 143.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock valued at $152,000 after buying an additional 2,682 shares during the last quarter. Shell Asset Management Co. raised its position in shares of Goodyear Tire & Rubber by 100.3% during the third quarter. Shell Asset Management Co. now owns 98,801 shares of the company’s stock valued at $2,231,000 after buying an additional 49,484 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Goodyear Tire & Rubber by 44.9% in the third quarter. Canada Pension Plan Investment Board now owns 159,759 shares of the company’s stock worth $5,312,000 after purchasing an additional 49,500 shares during the last quarter. Psagot Investment House Ltd. increased its position in Goodyear Tire & Rubber by 311.5% in the third quarter. Psagot Investment House Ltd. now owns 10,700 shares of the company’s stock worth $356,000 after purchasing an additional 8,100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Goodyear Tire & Rubber by 15.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 146,118 shares of the company’s stock worth $4,858,000 after purchasing an additional 19,322 shares during the last quarter. Hedge funds and other institutional investors own 94.64% of the company’s stock.

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Goodyear Tire & Rubber Company Profile

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.

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