Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 54,232 shares of the company's stock, valued at approximately $501,000.
Other large investors have also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at about $16,875,000. CenterBook Partners LP bought a new stake in Goodyear Tire & Rubber during the 1st quarter valued at about $13,413,000. Atlantic Investment Management Inc. bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at about $11,803,000. Greenvale Capital LLP bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at about $6,750,000. Finally, Marshall Wace LLP lifted its holdings in Goodyear Tire & Rubber by 883.9% during the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company's stock valued at $6,448,000 after buying an additional 643,597 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Stock Performance
NASDAQ:GT traded up $0.3950 during trading hours on Friday, hitting $8.6450. 7,124,373 shares of the company were exchanged, compared to its average volume of 6,541,219. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.03. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.73 and a beta of 1.37. The company's 50 day moving average price is $10.26 and its 200-day moving average price is $10.08.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. 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 previous year, the company posted $0.19 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 11th. BNP Paribas cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. HSBC reaffirmed a "hold" rating and issued a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday. Finally, Hsbc Global Res cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and a consensus price target of $12.25.
Read Our Latest Analysis on Goodyear Tire & Rubber
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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