Ameritas Advisory Services LLC Acquires Shares of 2,777 The Goodyear Tire & Rubber Company $GT

Ameritas Advisory Services LLC acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,777 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock valued at $26,000 after buying an additional 1,674 shares during the period. Cloud Capital Management LLC bought a new stake in Goodyear Tire & Rubber in the first quarter valued at about $33,000. Farther Finance Advisors LLC increased its holdings in Goodyear Tire & Rubber by 1,799.1% in the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock valued at $37,000 after buying an additional 3,868 shares during the last quarter. Signaturefd LLC increased its holdings in Goodyear Tire & Rubber by 125.6% in the second quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock valued at $47,000 after buying an additional 2,510 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Goodyear Tire & Rubber by 29.8% in the second quarter. Parallel Advisors LLC now owns 7,556 shares of the company’s stock valued at $78,000 after buying an additional 1,734 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $6.71 on Thursday. The business has a fifty day moving average of $8.15 and a 200-day moving average of $9.76. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 4.73, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its 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 company had revenue of $4.47 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Wednesday, October 8th. Citigroup started coverage on Goodyear Tire & Rubber in a research note on Monday, September 8th. They set a “neutral” rating and a $10.00 price objective for the company. HSBC restated a “hold” rating and set a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. BNP Paribas lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Hold” and an average target price of $11.93.

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.