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

MQS Management LLC purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,909 shares of the company’s stock, valued at approximately $132,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in Goodyear Tire & Rubber during the second quarter worth about $26,000. Mather Group LLC. increased its holdings in shares of Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after buying an additional 2,580 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after buying an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth approximately $40,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth approximately $57,000. Institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GT. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $9.27 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The firm has a market cap of $2.64 billion, a P/E ratio of -8.91 and a beta of 1.69. The firm has a 50 day simple moving average of $8.50 and a 200 day simple moving average of $10.08. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current fiscal year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.