Landscape Capital Management L.L.C. Grows Position in The Goodyear Tire & Rubber Company $GT

Key Points

• Landscape Capital Management L.L.C. increased its stake in The Goodyear Tire & Rubber Company by 330.1% during the first quarter, now owning 304,715 shares valued at approximately $2.82 million.
• Goodyear's recent earnings report showed a quarterly loss of ($0.17) EPS, missing estimates by ($0.31), with revenue falling 2.3% year-over-year.
• Several analysts have adjusted their price targets for Goodyear, with Deutsche Bank reducing it from $15.00 to $12.00, and the company currently holds a consensus rating of "Moderate Buy".

Landscape Capital Management L.L.C. grew its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 330.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,715 shares of the company's stock after buying an additional 233,865 shares during the period. Landscape Capital Management L.L.C. owned 0.11% of Goodyear Tire & Rubber worth $2,816,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of Goodyear Tire & Rubber in the 1st quarter worth approximately $20,422,000. Maple Rock Capital Partners Inc. purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at $16,875,000. CenterBook Partners LP bought a new stake in Goodyear Tire & Rubber in the first quarter worth $13,413,000. Atlantic Investment Management Inc. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $11,803,000. Finally, American Century Companies Inc. increased its holdings 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 in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GT. BNP Paribas Exane reissued a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Hsbc Global Res downgraded Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. JPMorgan Chase & Co. restated 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. Finally, BNP Paribas downgraded Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and an average target price of $12.25.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT traded up $0.02 during midday trading on Wednesday, reaching $8.41. 2,666,860 shares of the company were exchanged, compared to its average volume of 6,493,066. 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 stock has a market cap of $2.40 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The business's fifty day moving average is $9.94 and its two-hundred day moving average is $10.09. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.03.

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 (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 analysts' expectations of $4.50 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. Goodyear Tire & Rubber's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. As a group, analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current 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.