5 Cheap Small Cap Stocks to Buy Now

2. The Goodyear Tire & Rubber Company (NASDAQ:GT)

Number of Hedge Fund Holders: 38

The Goodyear Tire & Rubber Company (NASDAQ:GT) is one of the best cheap small cap stocks to buy now. Argus cut the price target on The Goodyear Tire & Rubber Company (NASDAQ:GT) to $9 from $13 on June 4 and maintained a Buy rating on the shares, telling investors in a research note that the company has experienced several big challenges over the past few years, ranging from rising raw material costs, higher capital expenditures, and slower consumer and commercial demand to low-priced Asian imports into the United States, and more recently, to trade and tariff legislation.

However, the firm also stated that it believes that The Goodyear Tire & Rubber Company (NASDAQ:GT) is meeting all these obstacles head-on with a rational and well-thought-out strategic plan, which is the “Goodyear Forward” plan that focuses on divesting noncore assets, lowering corporate debt, reducing structural costs, and prioritizing higher-margin, premium tire segments. The Goodyear Tire & Rubber Company (NASDAQ:GT) also received a rating update from JPMorgan on May 11. The firm cut the price target on the stock to $9 from $10 and maintained an Overweight rating on the shares.

The Goodyear Tire & Rubber Company (NASDAQ:GT) develops, manufactures, distributes, and sells tires. The company’s operations are divided into the following geographical segments: Americas, Europe, the Middle East, Africa, and Asia Pacific.