Counterpoint Mutual Funds LLC Takes Position in The Goodyear Tire & Rubber Company $GT

Counterpoint Mutual Funds LLC purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 65,957 shares of the company’s stock, valued at approximately $493,000.

A number of other institutional investors have also recently added to or reduced their stakes in GT. Greenvale Capital LLP acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at about $106,292,000. Marshall Wace LLP boosted its holdings in Goodyear Tire & Rubber by 1,107.5% in the second quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock valued at $81,152,000 after purchasing an additional 7,177,542 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at approximately $32,301,000. Maple Rock Capital Partners Inc. grew its stake in Goodyear Tire & Rubber by 215.6% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company’s stock valued at $57,676,000 after purchasing an additional 3,799,383 shares in the last quarter. Finally, Norges Bank purchased a new stake in Goodyear Tire & Rubber during the 2nd quarter worth approximately $29,112,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $8.79 on Wednesday. The stock has a market capitalization of $2.52 billion, a PE ratio of -1.47, a price-to-earnings-growth ratio of 0.39 and a beta of 1.18. The business’s fifty day moving average price is $9.21 and its 200 day moving average price is $8.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.54. The Goodyear Tire & Rubber Company has a 12-month low of $6.51 and a 12-month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GT shares. Citigroup increased their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Zacks Research lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Morgan Stanley boosted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $10.83.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.