Jefferies Financial Group Inc. Reduces Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Key Points

• Jefferies Financial Group Inc. has reduced its stake in The Goodyear Tire & Rubber Company by 52.1%, owning 37,903 shares valued at approximately $350,000 after selling 41,192 shares in the first quarter.
• Goodyear reported a loss of ($0.17) EPS for the last quarter, falling short of analysts' expectations of $0.14, with a revenue of $4.47 billion.
• Despite recent struggles, Wall Street analysts maintain a generally favorable outlook with a consensus rating of "Buy" and a target price of $14.20 for Goodyear shares.

Jefferies Financial Group Inc. decreased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 52.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,903 shares of the company's stock after selling 41,192 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Goodyear Tire & Rubber were worth $350,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brevan Howard Capital Management LP acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth $606,000. Franklin Resources Inc. grew its holdings in shares of Goodyear Tire & Rubber by 65.9% in the 4th quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock valued at $2,017,000 after acquiring an additional 88,993 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of Goodyear Tire & Rubber in the 1st quarter valued at about $308,000. Sippican Capital Advisors lifted its stake in Goodyear Tire & Rubber by 89.1% in the 1st quarter. Sippican Capital Advisors now owns 176,948 shares of the company's stock valued at $1,635,000 after purchasing an additional 83,363 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Goodyear Tire & Rubber by 19.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,650 shares of the company's stock valued at $182,000 after purchasing an additional 3,212 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GT shares. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. BNP Paribas lowered shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday. BNP Paribas Exane reiterated a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday. Finally, Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.00.

Goodyear Tire & Rubber Price Performance

NASDAQ GT traded down $1.90 on Friday, hitting $8.36. The stock had a trading volume of 28,599,940 shares, compared to its average volume of 6,155,996. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.03. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 0.26 and a beta of 1.37. The firm has a 50-day moving average of $10.77 and a 200-day moving average of $10.13.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released 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). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.22%. The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the business posted $0.19 EPS. Goodyear Tire & Rubber's revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS 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.