Proficio Capital Partners LLC Invests $213,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Proficio Capital Partners LLC purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,634 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds have also recently modified their holdings of GT. US Bancorp DE lifted its position in Goodyear Tire & Rubber by 20.9% during the 3rd quarter. US Bancorp DE now owns 18,281 shares of the company’s stock worth $162,000 after acquiring an additional 3,163 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $92,000. Victory Capital Management Inc. increased its stake in shares of Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after acquiring an additional 4,633,368 shares during the period. MQS Management LLC purchased a new position in shares of Goodyear Tire & Rubber during the third quarter worth $132,000. Finally, AM Squared Ltd acquired a new position in Goodyear Tire & Rubber during the third quarter valued at $92,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the subject of a number of recent research reports. TD Cowen began coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 price objective for the company. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber Stock Down 0.9 %

Shares of NASDAQ GT opened at $9.30 on Thursday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.86. The company has a market capitalization of $2.65 billion, a P/E ratio of 38.75 and a beta of 1.71. The company has a 50 day simple moving average of $9.14 and a 200-day simple moving average of $8.98. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

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.