Goodyear Tire & Rubber Sees Unusually High Options Volume (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 50,275 call options on the company. This is an increase of approximately 664% compared to the typical volume of 6,581 call options.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $10.22 on Friday. The stock has a 50-day moving average of $9.06 and a 200-day moving average of $8.55. Goodyear Tire & Rubber has a one year low of $6.51 and a one year high of $12.03. The stock has a market cap of $2.92 billion, a PE ratio of -1.68, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on GT shares. Citigroup decreased their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Zacks Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. lowered their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Morgan Stanley raised their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.85.

Institutional Trading of Goodyear Tire & Rubber

Several hedge funds have recently added to or reduced their stakes in GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Goodyear Tire & Rubber by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after acquiring an additional 7,453 shares during the period. United Services Automobile Association acquired a new position in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Goodyear Tire & Rubber by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock valued at $6,074,000 after purchasing an additional 15,064 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Goodyear Tire & Rubber by 58.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,167 shares of the company’s stock worth $353,000 after purchasing an additional 11,517 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Goodyear Tire & Rubber by 125.6% in the second quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock valued at $47,000 after buying an additional 2,510 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

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.