Jupiter Topco LLC Takes Position in The Goodyear Tire & Rubber Company $GT

Jupiter Topco LLC purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 121,841 shares of the company’s stock, valued at approximately $805,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber during the third quarter valued at approximately $25,000. EFG International AG acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth approximately $26,000. Los Angeles Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth approximately $26,000. Allworth Financial LP bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Goodyear Tire & Rubber by 656.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after buying an additional 5,248 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT stock opened at $6.25 on Monday. The business has a fifty day moving average price of $6.59 and a 200 day moving average price of $6.70. The Goodyear Tire & Rubber Company has a fifty-two week low of $5.43 and a fifty-two week high of $10.62. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.09 and a quick ratio of 0.55.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.19 billion. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Analysts expect that The Goodyear Tire & Rubber Company will post -0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GT. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and a consensus price target of $8.26.

Goodyear Tire & Rubber 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.