Natixis Advisors LLC Purchases New Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Key Points

• Natixis Advisors LLC has acquired 33,769 shares of The Goodyear Tire & Rubber Company, valued at approximately $312,000, during the first quarter.
• Analysts have mixed views on Goodyear, with BNP Paribas cutting its rating to "hold" and a target price ranging from $9.00 to $17.00 from other institutions.
• The company's recent earnings report showed a loss of ($0.17) EPS, missing estimates and reflecting a 2.3% year-over-year revenue decline.

Natixis Advisors LLC bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,769 shares of the company's stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GT. Bayforest Capital Ltd bought a new stake in Goodyear Tire & Rubber in the 1st quarter valued at $407,000. AGP Franklin LLC raised its stake in Goodyear Tire & Rubber by 4.2% in the 1st quarter. AGP Franklin LLC now owns 102,440 shares of the company's stock valued at $999,000 after acquiring an additional 4,096 shares during the period. Cetera Investment Advisers raised its stake in Goodyear Tire & Rubber by 14.3% in the 1st quarter. Cetera Investment Advisers now owns 78,942 shares of the company's stock valued at $729,000 after acquiring an additional 9,886 shares during the period. John G Ullman & Associates Inc. raised its stake in Goodyear Tire & Rubber by 9.1% in the 1st 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 period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in Goodyear Tire & Rubber by 0.6% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 589,242 shares of the company's stock worth $5,445,000 after buying an additional 3,803 shares during the period. 84.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GT. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. reiterated an "overweight" rating and set a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. BNP Paribas Exane reiterated a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of "Moderate Buy" and an average price target of $12.80.

Goodyear Tire & Rubber Trading Down 0.5%

Shares of GT stock traded down $0.04 during mid-day trading on Friday, reaching $8.49. 11,013,227 shares of the stock traded hands, compared to its average volume of 8,637,622. The stock's fifty day simple moving average is $10.52 and its two-hundred day simple moving average is $10.10. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $12.03. The company has a quick ratio of 0.63, a current ratio of 1.15 and a debt-to-equity ratio of 1.24.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced 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 company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.