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. Stock traders purchased 14,513 call options on the stock. This is an increase of 146% compared to the average daily volume of 5,891 call options.

Analyst Ratings Changes

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

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT traded up $0.20 during trading hours on Monday, reaching $6.60. The stock had a trading volume of 8,840,194 shares, compared to its average volume of 7,999,286. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -0.91 and a beta of 1.12. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. Goodyear Tire & Rubber has a fifty-two week low of $5.43 and a fifty-two week high of $11.79. The firm has a 50-day moving average of $6.42 and a 200-day moving average of $7.78.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. Equities research analysts predict that Goodyear Tire & Rubber will post -0.27 earnings per share for the current year.

Institutional Trading of Goodyear Tire & Rubber

A number of hedge funds have recently added to or reduced their stakes in GT. Focus Partners Wealth acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $25,000. EFG International AG acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $26,000. Los Angeles Capital Management LLC acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after acquiring an additional 5,248 shares during the period. Finally, Parallel Advisors LLC lifted its position in Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after acquiring an additional 2,538 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

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.