Cibc World Market Inc. Purchases 335,488 Shares of The Goodyear Tire & Rubber Company $GT

Cibc World Market Inc. lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,265,298 shares of the company’s stock after acquiring an additional 335,488 shares during the period. Cibc World Market Inc.’s holdings in Goodyear Tire & Rubber were worth $19,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invenomic Capital Management LP bought a new stake in Goodyear Tire & Rubber during the third quarter worth about $13,753,000. CenterBook Partners LP lifted its stake in Goodyear Tire & Rubber by 166.1% during the third quarter. CenterBook Partners LP now owns 2,040,792 shares of the company’s stock worth $15,265,000 after purchasing an additional 1,273,883 shares during the last quarter. Bastion Asset Management Inc. lifted its stake in Goodyear Tire & Rubber by 72.9% during the fourth quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock worth $8,076,000 after purchasing an additional 406,410 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Goodyear Tire & Rubber by 76.3% during the third quarter. Allianz Asset Management GmbH now owns 1,135,023 shares of the company’s stock worth $8,490,000 after purchasing an additional 491,210 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in Goodyear Tire & Rubber by 313.7% during the third quarter. Brevan Howard Capital Management LP now owns 438,206 shares of the company’s stock worth $3,278,000 after purchasing an additional 332,294 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Research lowered Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Finally, TD Cowen dropped their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.54.

Goodyear Tire & Rubber Stock Up 0.9%

GT opened at $5.71 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of -0.79 and a beta of 1.12. The business’s 50-day moving average price is $6.47 and its 200-day moving average price is $7.84. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The Goodyear Tire & Rubber Company has a 12 month low of $5.43 and a 12 month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post -0.32 EPS for the current year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.