Why Goodyear Tire & Rubber (GT) Stock Is Up In Pre-Market Trading Today

NEW YORK (TheStreet) -- Shares of The Goodyear Tire & Rubber Co. (GT) are higher by 1.27% to $28 in pre-market trading on Wednesday, after the company reported an increase in net income to $213 million, or 76 cents per diluted share for the 2014 second quarter, compared to $181 million, or 67 cents per diluted share for the same period last year.

The tire manufacturer said adjusted net income grew to $225 million, or 80 cents per diluted share for the most recent quarter, from $209 million, or 76 cents per diluted share for the 2013 second quarter.

Goodyear's total sales for the 2014 second quarter were $4.7 billion versus $4.9 billion for the year ago quarter.

Must Read: Warren Buffett's 25 Favorite Stocks


Separately, TheStreet Ratings team rates GOODYEAR TIRE & RUBBER CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate GOODYEAR TIRE & RUBBER CO (GT) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

GT Chart GT data by YCharts

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