Huber Capital Management LLC Acquires 150,700 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Huber Capital Management LLC boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 271.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,200 shares of the company’s stock after purchasing an additional 150,700 shares during the quarter. Huber Capital Management LLC owned approximately 0.07% of Goodyear Tire & Rubber worth $1,856,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GT. Allworth Financial LP boosted its stake in Goodyear Tire & Rubber by 251.8% during the fourth 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 last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Goodyear Tire & Rubber in the third quarter valued at $45,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after purchasing an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Goodyear Tire & Rubber during the fourth quarter valued at $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at $79,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of GT stock opened at $9.12 on Thursday. The stock has a 50 day moving average price of $9.18 and a 200 day moving average price of $9.08. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.78. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm has a market capitalization of $2.60 billion, a P/E ratio of 38.00 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GT shares. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. 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’s stock. According to MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

Goodyear Tire & Rubber 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.