Coppell Advisory Solutions LLC Reduces Stock Holdings in The Goodyear Tire & Rubber Company $GT

Key Points

• Coppell Advisory Solutions LLC drastically reduced its holdings in The Goodyear Tire & Rubber Company by 88.9% in Q1, selling 209,567 shares and retaining just 26,102 shares valued at approximately $241,000.
• The company's stock has faced downward revisions from analysts, with Deutsche Bank lowering its price target from $15.00 to $12.00 and several other firms adjusting their targets downwards as well.
• For the latest quarter, Goodyear reported a loss of ($0.17) EPS, missing expectations, while their revenue of $4.47 billion fell short of analysts’ forecasts and declined by 2.3% year-over-year.

Coppell Advisory Solutions LLC decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 88.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,102 shares of the company's stock after selling 209,567 shares during the period. Coppell Advisory Solutions LLC's holdings in Goodyear Tire & Rubber were worth $241,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GT. Nisa Investment Advisors LLC boosted its holdings in shares of Goodyear Tire & Rubber by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock worth $266,000 after acquiring an additional 932 shares during the period. John G Ullman & Associates Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 9.1% in the first quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company's stock worth $166,000 after acquiring an additional 1,500 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 15.1% in the fourth quarter. Baird Financial Group Inc. now owns 12,296 shares of the company's stock worth $111,000 after acquiring an additional 1,617 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Goodyear Tire & Rubber by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company's stock worth $677,000 after acquiring an additional 1,621 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after acquiring an additional 1,674 shares during the period. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Trading Down 0.5%

Goodyear Tire & Rubber stock opened at $8.55 on Wednesday. The stock has a market cap of $2.45 billion, a P/E ratio of 6.02, a PEG ratio of 0.76 and a beta of 1.37. 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 Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.03. The firm's fifty day moving average price is $9.74 and its 200-day moving average price is $10.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share 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 firm had revenue of $4.47 billion for the quarter, compared to analysts' expectations of $4.50 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GT shares. Deutsche Bank Aktiengesellschaft cut their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 11th. HSBC reaffirmed a "hold" rating and issued a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. 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 report on Thursday, May 22nd. BNP Paribas cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, Hsbc Global Res cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.93.

Goodyear Tire & Rubber Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.