ExodusPoint Capital Management LP Invests $558,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

ExodusPoint Capital Management LP acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 62,053 shares of the company's stock, valued at approximately $558,000.

Several other large investors also recently bought and sold shares of GT. Allworth Financial LP raised 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 valued at $40,000 after buying an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at about $45,000. Signaturefd LLC raised its stake in shares of Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after acquiring an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth approximately $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $79,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GT. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.78.

Goodyear Tire & Rubber Trading Down 0.5 %

GT traded down $0.05 during midday trading on Thursday, hitting $9.60. The company's stock had a trading volume of 904,271 shares, compared to its average volume of 5,009,507. The firm has a market cap of $2.74 billion, a P/E ratio of 40.02 and a beta of 1.49. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.26. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average price of $9.29 and a two-hundred day moving average price of $9.17.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, research analysts anticipate 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.