Counterpoint Mutual Funds LLC Purchases New Holdings in The Goodyear Tire & Rubber Company $GT

Counterpoint Mutual Funds LLC bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 124,171 shares of the company’s stock, valued at approximately $823,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in Goodyear Tire & Rubber by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after acquiring an additional 1,011 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its holdings in shares of Goodyear Tire & Rubber by 1.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock worth $657,000 after purchasing an additional 1,065 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 11.5% in the 4th quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock worth $98,000 after purchasing an additional 1,152 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Goodyear Tire & Rubber by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Goodyear Tire & Rubber by 2.8% in the fourth quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock worth $496,000 after purchasing an additional 1,529 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT opened at $6.59 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -0.91 and a beta of 1.12. The Goodyear Tire & Rubber Company has a fifty-two week low of $5.43 and a fifty-two week high of $11.79. The company has a fifty day moving average of $6.26 and a 200 day moving average of $7.55.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the company posted ($0.04) EPS. The company’s revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post -0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GT shares. Zacks Research cut Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Citigroup dropped their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. TD Cowen dropped their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $8.54.

Goodyear Tire & Rubber Company Profile

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.