Goodyear Tire & Rubber Co (NASDAQ:GT) was up 7% on Wednesday . The stock traded as high as $14.01 and last traded at $13.96, approximately 6,518,869 shares traded hands during mid-day trading. An increase of 53% from the average daily volume of 4,262,981 shares. The stock had previously closed at $13.05.

A number of equities research analysts recently issued reports on GT shares. Citigroup decreased their price target on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Exane BNP Paribas started coverage on Goodyear Tire & Rubber in a research report on Friday, August 16th. They issued an “outperform” rating and a $15.00 price objective on the stock. ValuEngine raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Tuesday. BNP Paribas assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday, August 16th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, BidaskClub cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.52.

The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average price of $12.31 and a 200 day moving average price of $15.79. The stock has a market cap of $2.94 billion, a PE ratio of 6.02 and a beta of 1.76.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company posted $0.62 EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts forecast that Goodyear Tire & Rubber Co will post 1.53 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.58%. The ex-dividend date was Wednesday, July 31st. Goodyear Tire & Rubber’s payout ratio is 27.59%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. HM Payson & Co. purchased a new position in Goodyear Tire & Rubber in the second quarter valued at about $58,000. Advisory Services Network LLC lifted its position in shares of Goodyear Tire & Rubber by 46.3% during the first quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock valued at $94,000 after buying an additional 1,645 shares during the last quarter. Employers Holdings Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at about $106,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Goodyear Tire & Rubber by 37.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,097 shares of the company’s stock valued at $138,000 after buying an additional 2,492 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 17.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the company’s stock valued at $155,000 after buying an additional 1,507 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Goodyear Tire & Rubber Company Profile (NASDAQ:GT)

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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