Davis Investment Partners LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 54,670 shares of the company's stock, valued at approximately $583,000.
Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 1st quarter worth about $20,422,000. CenterBook Partners LP purchased a new position in Goodyear Tire & Rubber during the first quarter worth about $13,413,000. American Century Companies Inc. increased its position in shares of 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 valued at $99,666,000 after acquiring an additional 1,134,058 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Goodyear Tire & Rubber by 700.4% in the 1st quarter. AQR Capital Management LLC now owns 1,228,982 shares of the company's stock valued at $11,233,000 after acquiring an additional 1,075,444 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in shares of Goodyear Tire & Rubber in the 1st quarter worth approximately $5,634,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Trading Down 0.7%
GT opened at $8.51 on Monday. The business has a fifty day moving average price of $9.58 and a 200 day moving average price of $10.01. 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 12 month low of $7.74 and a 12 month high of $12.03. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 5.99, a PEG ratio of 0.75 and a beta of 1.37.
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). 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 during the quarter, compared to analysts' expectations of $4.50 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on GT. BNP Paribas Exane reiterated a "neutral" rating and issued a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. BNP Paribas lowered Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. HSBC reiterated a "hold" rating and issued a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. Citigroup started coverage on Goodyear Tire & Rubber in a report on Monday, September 8th. They set a "neutral" rating and a $10.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.93.
Get Our Latest Report 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.
See Also
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.
Before you consider Goodyear Tire & Rubber, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Goodyear Tire & Rubber wasn't on the list.
While Goodyear Tire & Rubber currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
