Point72 Asia Singapore Pte. Ltd. Buys Shares of 5,111 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Point72 Asia Singapore Pte. Ltd. purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, Holdings Channel reports. The fund purchased 5,111 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP increased its holdings in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after acquiring an additional 3,059 shares in the last quarter. Signaturefd LLC boosted its position in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after purchasing an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $54,000. Transce3nd LLC purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $79,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT opened at $10.77 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 44.88 and a beta of 1.42. The company has a fifty day moving average of $9.93 and a 200 day moving average of $9.54. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.97.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GT has been the subject of several recent analyst reports. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. TD Cowen initiated coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, March 31st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Goodyear Tire & Rubber Company Profile

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.