Entropy Technologies LP Makes New Investment in The Goodyear Tire & Rubber Company $GT

Key Points

• Entropy Technologies LP has made a new investment in Goodyear Tire & Rubber, acquiring 36,588 shares valued at approximately $338,000. This reflects a growing interest from institutional investors in the company.
• Goodyear reported (0.17) earnings per share (EPS) for the last quarter, missing analysts' estimates, and the company experienced a 2.3% decrease in revenue year-over-year.
• Brokerage firms have set varying price targets for Goodyear, with estimates ranging from $9.00 to $17.00, indicating differing outlooks on the company's performance moving forward.

Entropy Technologies LP acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,588 shares of the company's stock, valued at approximately $338,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock valued at $266,000 after acquiring an additional 932 shares during the last quarter. John G Ullman & Associates Inc. lifted its holdings in 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 valued at $166,000 after acquiring an additional 1,500 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Goodyear Tire & Rubber by 15.1% in the fourth quarter. Baird Financial Group Inc. now owns 12,296 shares of the company's stock valued at $111,000 after acquiring an additional 1,617 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Goodyear Tire & Rubber by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company's stock valued at $677,000 after acquiring an additional 1,621 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after acquiring an additional 1,674 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GT has been the topic of a number of research reports. BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. JPMorgan Chase & Co. restated an "overweight" rating and set a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. Finally, BNP Paribas Exane restated a "neutral" rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.80.

Goodyear Tire & Rubber Stock Up 0.5%

NASDAQ:GT traded up $0.0440 during trading hours on Tuesday, hitting $8.4340. The company's stock had a trading volume of 2,977,294 shares, compared to its average volume of 6,465,083. The stock has a market capitalization of $2.41 billion, a P/E ratio of 5.94, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The stock has a fifty day moving average of $10.45 and a 200-day moving average of $10.10. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.03.

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

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.