Coppell Advisory Solutions LLC Sells 209,567 Shares of 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 trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 88.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,102 shares of the company's stock after selling 209,567 shares during the quarter. Coppell Advisory Solutions LLC's holdings in Goodyear Tire & Rubber were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GT. Nuveen LLC bought a new position in shares of Goodyear Tire & Rubber during the first quarter worth about $20,422,000. CenterBook Partners LP acquired a new stake in Goodyear Tire & Rubber during the first quarter worth approximately $13,413,000. American Century Companies Inc. grew its stake in Goodyear Tire & Rubber by 11.7% during the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company's stock worth $99,666,000 after purchasing an additional 1,134,058 shares during the period. AQR Capital Management LLC grew its stake in Goodyear Tire & Rubber by 700.4% during the first quarter. AQR Capital Management LLC now owns 1,228,982 shares of the company's stock worth $11,233,000 after purchasing an additional 1,075,444 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in Goodyear Tire & Rubber during the first quarter worth approximately $5,634,000. 84.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GT shares. HSBC reaffirmed 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. Hsbc Global Res cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.93.

Goodyear Tire & Rubber Stock Up 0.3%

Shares of GT stock traded up $0.03 during trading hours on Monday, reaching $8.54. The company had a trading volume of 2,142,826 shares, compared to its average volume of 6,533,933. The business has a fifty day simple moving average of $9.58 and a 200-day simple moving average of $10.01. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 12 month low of $7.79 and a 12 month high of $12.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). The business had revenue of $4.47 billion for 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 business's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

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.