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

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Zacks Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. reduced their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Morgan Stanley lifted their target price on 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, Citigroup cut their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $25,000. Solstein Capital LLC acquired a new position in Goodyear Tire & Rubber during the second quarter worth $26,000. Ameritas Advisory Services LLC purchased a new stake in Goodyear Tire & Rubber during the second quarter worth $29,000. Caitong International Asset Management Co. Ltd boosted its position in Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock worth $29,000 after purchasing an additional 2,726 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at $31,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Up 2.6%

Shares of GT stock opened at $10.22 on Thursday. The business’s fifty day moving average price is $9.02 and its 200 day moving average price is $8.53. The firm has a market capitalization of $2.92 billion, a PE ratio of -1.68, a P/E/G ratio of 0.75 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 has a 1-year low of $6.51 and a 1-year high of $12.03.

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