November 28, 2016 - By Louis Casey · 0 Comments
Goodyear Tire & Rubber Co (NASDAQ:GT) institutional sentiment decreased to 0.73 in 2016 Q2. Its down -0.20, from 0.93 in 2016Q1. The ratio has dropped, as 214 active investment managers increased and started new positions, while 229 reduced and sold holdings in Goodyear Tire & Rubber Co. The active investment managers in our partner’s database now possess: 241.41 million shares, down from 245.73 million shares in 2016Q1. Also, the number of active investment managers holding Goodyear Tire & Rubber Co in their top 10 positions decreased from 13 to 8 for a decrease of 5. Sold All: 70 Reduced: 159 Increased: 171 New Position: 43.
The Goodyear Tire & Rubber Company is engaged in developing, manufacturing, marketing and distributing tires for various applications. The company has a market cap of $8.11 billion. It also makes and markets rubber-related chemicals for various applications. It has a 25.45 P/E ratio. The Company’s Americas business comprises businesses of North America and Latin America.
About 1.35M shares traded hands. Goodyear Tire & Rubber Co (NASDAQ:GT) has declined 3.29% since April 25, 2016 and is downtrending. It has underperformed by 9.30% the S&P500.
Analysts await Goodyear Tire & Rubber Co (NASDAQ:GT) to report earnings on February, 14. They expect $0.84 earnings per share, down 9.68% or $0.09 from last year’s $0.93 per share. GT’s profit will be $220.89M for 9.18 P/E if the $0.84 EPS becomes a reality. After $1.17 actual earnings per share reported by Goodyear Tire & Rubber Co for the previous quarter, Wall Street now forecasts -28.21% negative EPS growth.
According to Zacks Investment Research, “Goodyear is one of the world’s largest tire companies. The company manufactures tires, engineered rubber products and chemicals in facilities in numerous countries. It has marketing operations in almost every country around the world. (Company Press Release)”
Marcato Capital Management Lp holds 10.25% of its portfolio in Goodyear Tire & Rubber Co for 4.93 million shares. Wilen Investment Management Corp. owns 409,036 shares or 6.77% of their US portfolio. Moreover, Moon Capital Management Lp has 6.01% invested in the company for 606,056 shares. The California-based Lonestar Capital Management Llc has invested 4.53% in the stock. Towle & Co, a Missouri-based fund reported 856,263 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 2 selling transactions for $1.07 million net activity.
Ratings analysis reveals 75% of Goodyear Tire’s analysts are positive. Out of 4 Wall Street analysts rating Goodyear Tire, 3 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $29 while the high is $37. The stock’s average target of $33.33 is 8.07% above today’s ($30.84) share price. GT was included in 7 notes of analysts from October 28, 2015. Standpoint Research downgraded the shares of GT in a report on Wednesday, October 28 to “Hold” rating. The rating was maintained by Argus Research on Tuesday, November 10 with “Buy”. The rating was initiated by Berenberg with “Buy” on Tuesday, November 22. The company was upgraded on Thursday, January 14 by Standpoint Research. The stock of Goodyear Tire & Rubber Co (NASDAQ:GT) has “Hold” rating given on Wednesday, March 30 by Standpoint Research. KeyBanc Capital Markets upgraded the stock to “Overweight” rating in Thursday, April 7 report.
The Goodyear Tire & Rubber Company, incorporated on August 29, 1898, is a maker of tires. The Firm is engaged in developing, manufacturing, marketing and distributing tires for a range of applications. The Firm also makes and markets rubber-related chemicals for a range of applications. The Company’s divisions include Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. Americas business comprises businesses of North America and Latin America. It operates commercial truck service and tire retreading centers. In addition, it operates approximately 1,100 tire and auto service center outlets where it offers its products for retail sale and provides automotive repair and other services. It makes its products in approximately 50 manufacturing facilities in over 20 countries, including the United States. The Firm makes and markets various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, industrial equipment, earthmoving and mining equipment, and various other applications. The Firm makes and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned house brands, and the private-label brands of certain customers. In certain geographic areas, it also retreads truck, aviation and off-the-road (OTR) tires; makes and sells tread rubber and other tire retreading materials; sells chemical products, and provides automotive repair services and miscellaneous other services and products.
More news for Goodyear Tire & Rubber Co (NASDAQ:GT) were recently published by: Prnewswire.com, which released: “Goodyear Blimp ‘Santa Claus Express’ Comes to Town for Toys for Tots” on November 18, 2016. Prnewswire.com‘s article titled: “Goodyear Launches “Your Blimpworthy Story” Contest in Advance of Goodyear …” and published on November 15, 2016 is yet another important article.
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By Louis Casey