Goodyear Tire & Rubber Co (NASDAQ:GT) rose 7% during mid-day trading on Wednesday . The company traded as high as $14.01 and last traded at $13.96, approximately 6,518,869 shares traded hands during 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 analysts have recently commented on the stock. Exane BNP Paribas assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, August 16th. They issued an “outperform” rating and a $15.00 price target for the company. Longbow Research raised shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price objective for the company in a report on Thursday, June 6th. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup dropped their target price on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, BNP Paribas assumed coverage on shares of Goodyear Tire & Rubber in a research report on Friday, August 16th. They issued an “outperform” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Goodyear Tire & Rubber has an average rating of “Hold” and an average target price of $17.52.

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

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $58,000. Advisory Services Network LLC lifted its stake in shares of Goodyear Tire & Rubber by 46.3% during the 1st 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 in the last quarter. Employers Holdings Inc. purchased a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $106,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Goodyear Tire & Rubber by 37.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,097 shares of the company’s stock worth $138,000 after buying an additional 2,492 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Goodyear Tire & Rubber by 17.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the company’s stock worth $155,000 after buying an additional 1,507 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

About Goodyear Tire & Rubber (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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