Traders Buy High Volume of Call Options on Goodyear Tire & Rubber (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GTGet Rating) was the target of unusually large options trading activity on Thursday. Investors bought 21,934 call options on the stock. This represents an increase of approximately 165% compared to the typical daily volume of 8,271 call options.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in Goodyear Tire & Rubber during the fourth quarter valued at approximately $29,000. CWM LLC purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $36,000. Ancora Advisors LLC raised its holdings in shares of Goodyear Tire & Rubber by 142.9% in the first quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the last quarter. First Quadrant LLC CA purchased a new position in shares of Goodyear Tire & Rubber in the first quarter worth $30,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GT. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Citigroup reduced their target price on shares of Goodyear Tire & Rubber from $19.00 to $15.00 in a report on Monday, May 16th. Exane BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a report on Monday, April 11th. They issued a “neutral” rating on the stock. TheStreet downgraded shares of Goodyear Tire & Rubber from a “b-” rating to a “c” rating in a report on Wednesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and reduced their target price for the stock from $19.00 to $15.00 in a report on Monday, July 18th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Hold” and an average target price of $17.19.

Goodyear Tire & Rubber Price Performance

Shares of GT stock opened at $13.23 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 0.65. The company has a market capitalization of $3.74 billion, a P/E ratio of 4.42 and a beta of 1.88. The company’s 50-day simple moving average is $11.77 and its two-hundred day simple moving average is $13.93. Goodyear Tire & Rubber has a one year low of $10.33 and a one year high of $24.89.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Goodyear Tire & Rubber had a net margin of 4.49% and a return on equity of 11.37%. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. As a group, equities analysts anticipate that Goodyear Tire & Rubber will post 2.08 EPS for the current year.

Goodyear Tire & Rubber Company Profile

(Get Rating)

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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