Peak6 LLC Makes New Investment in The Goodyear Tire & Rubber Company (NASDAQ:GT)

PEAK6 LLC bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,169 shares of the company's stock, valued at approximately $290,000.

Several other hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after buying an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Goodyear Tire & Rubber during the third quarter valued at $45,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after purchasing an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Goodyear Tire & Rubber in the fourth quarter worth approximately $79,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GT. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a report on Monday, March 31st. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, TD Cowen initiated coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and an average target price of $13.78.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT traded down $0.02 on Friday, reaching $10.94. The stock had a trading volume of 4,100,302 shares, compared to its average volume of 5,100,335. The company has a market capitalization of $3.12 billion, a P/E ratio of 45.59 and a beta of 1.49. The stock has a fifty day moving average price of $9.49 and a 200-day moving average price of $9.26. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS 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.