Bayforest Capital Ltd purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,100 shares of the company's stock, valued at approximately $407,000.
Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares during the period. UMB Bank n.a. increased its position in shares of Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after purchasing an additional 1,748 shares in the last quarter. Cloud Capital Management LLC acquired a new position in Goodyear Tire & Rubber during the first quarter worth $33,000. Farther Finance Advisors LLC lifted its stake in shares of Goodyear Tire & Rubber by 1,799.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock valued at $37,000 after purchasing an additional 3,868 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 84.19% of the company's stock.
Goodyear Tire & Rubber Stock Up 0.3%
Shares of GT traded up $0.03 during midday trading on Tuesday, reaching $8.55. 2,909,341 shares of the company were exchanged, compared to its average volume of 6,537,331. The stock has a 50-day moving average price of $9.53 and a 200-day moving average price of $10.00. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 6.00, a P/E/G ratio of 0.75 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 1-year low of $7.80 and a 1-year high of $12.03. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GT. HSBC reissued a "hold" rating and set a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Citigroup began coverage on Goodyear Tire & Rubber in a research note on Monday, September 8th. They set a "neutral" rating and a $10.00 target price on the stock. BNP Paribas lowered Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Hsbc Global Res downgraded Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.93.
Get Our Latest Research Report on GT
Goodyear Tire & Rubber Company Profile
(
Free Report)
Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.
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