Goodyear Tire & Rubber Target of Unusually High Options Trading (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) was the target of unusually large options trading on Monday. Traders bought 11,588 call options on the company. This represents an increase of 75% compared to the typical volume of 6,617 call options.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GT. Morgan Stanley lifted their target price on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Zacks Research downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Finally, Citigroup boosted their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.30.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently modified their holdings of GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Goodyear Tire & Rubber by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock worth $1,567,000 after purchasing an additional 7,453 shares during the period. United Services Automobile Association acquired a new stake in Goodyear Tire & Rubber during the 1st quarter valued at $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 worth $6,074,000 after acquiring an additional 15,064 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after buying an additional 1,011 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Goodyear Tire & Rubber by 45.6% in the second quarter. Teacher Retirement System of Texas now owns 57,614 shares of the company’s stock valued at $597,000 after purchasing an additional 18,045 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT stock opened at $7.37 on Tuesday. The company has a 50-day simple moving average of $9.07 and a 200 day simple moving average of $8.39. The company has a market capitalization of $2.11 billion, a P/E ratio of -1.23, a PEG ratio of 0.32 and a beta of 1.12. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.57. Goodyear Tire & Rubber has a fifty-two week low of $6.51 and a fifty-two week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current fiscal year.

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.