Connor Clark & Lunn Investment Management Ltd. Invests $501,000 in The Goodyear Tire & Rubber Company $GT

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in The Goodyear Tire & Rubber Company, purchasing 54,232 shares valued at approximately $501,000.
• Goodyear's recent earnings report revealed a loss of $0.17 EPS, falling short of analysts' expectations, with revenues of $4.47 billion, down 2.3% year-over-year.
• Analyst ratings for Goodyear are mixed, with the stock receiving a consensus "Moderate Buy" rating and an average price target of $12.80.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 54,232 shares of the company's stock, valued at approximately $501,000.

Several other large investors have also recently made changes to their positions in GT. Envestnet Asset Management Inc. bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth about $157,000. Raymond James Financial Inc. purchased a new position in Goodyear Tire & Rubber during the 4th quarter valued at approximately $193,000. Sterling Capital Management LLC grew its holdings in Goodyear Tire & Rubber by 815.3% during the 4th quarter. Sterling Capital Management LLC now owns 8,979 shares of the company's stock valued at $81,000 after buying an additional 7,998 shares in the last quarter. Mariner LLC grew its holdings in Goodyear Tire & Rubber by 27.6% during the 4th quarter. Mariner LLC now owns 32,105 shares of the company's stock valued at $289,000 after buying an additional 6,942 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in Goodyear Tire & Rubber by 57.4% during the 4th quarter. Guggenheim Capital LLC now owns 58,483 shares of the company's stock valued at $526,000 after buying an additional 21,327 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Up 4.8%

NASDAQ GT traded up $0.40 during trading on Friday, hitting $8.65. The stock had a trading volume of 9,535,911 shares, compared to its average volume of 9,518,539. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.76 and a beta of 1.37. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.03. The stock has a 50 day simple moving average of $10.21 and a 200 day simple moving average of $10.09.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.31). The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 EPS. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BNP Paribas Exane restated a "neutral" rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. JPMorgan Chase & Co. restated an "overweight" rating and set a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. 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 report on Wednesday. Finally, Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and an average target price of $12.25.

Goodyear Tire & Rubber Profile

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.