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

The Goodyear Tire & Rubber Company (NASDAQ:GT) saw some unusual options trading on Tuesday. Stock traders bought 19,427 call options on the company. This represents an increase of approximately 447% compared to the typical volume of 3,553 call options.

Wall Street Analyst Weigh In

GT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.30.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently made changes to their positions in GT. Sound Income Strategies LLC lifted its stake in Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after purchasing an additional 3,778 shares in the last quarter. Allworth Financial LP raised its position in Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth about $45,000. Signaturefd LLC boosted its stake in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after purchasing an additional 1,997 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 0.2 %

Shares of Goodyear Tire & Rubber stock opened at $8.23 on Thursday. The firm’s 50 day simple moving average is $9.07 and its two-hundred day simple moving average is $8.91. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $13.86. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -7.91 and a beta of 1.79.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.