Quest Partners LLC Buys 51,138 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Quest Partners LLC increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3,668.4% during the 2nd quarter, Holdings Channel reports. The fund owned 52,532 shares of the company’s stock after buying an additional 51,138 shares during the quarter. Quest Partners LLC’s holdings in Goodyear Tire & Rubber were worth $596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth $213,000. Forum Financial Management LP acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth $149,000. Boston Partners bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $1,042,000. First Eagle Investment Management LLC grew its stake in Goodyear Tire & Rubber by 3.6% in the fourth quarter. First Eagle Investment Management LLC now owns 962,908 shares of the company’s stock valued at $13,789,000 after acquiring an additional 33,712 shares during the period. Finally, Norges Bank bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth about $66,842,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GT. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price for the company. Finally, StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Trading Up 0.4 %

Shares of NASDAQ:GT opened at $7.66 on Thursday. The stock has a market capitalization of $2.18 billion, a PE ratio of -3.39 and a beta of 1.70. The company’s 50-day moving average price is $9.69 and its two-hundred day moving average price is $11.37. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. Goodyear Tire & Rubber’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) earnings per share. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.12 EPS for the current fiscal year.

Goodyear Tire & Rubber Company Profile

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.