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

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 19,427 call options on the stock. This represents an increase of 447% compared to the average daily volume of 3,553 call options.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT traded up $1.41 during trading hours on Friday, hitting $9.58. The company's stock had a trading volume of 19,618,353 shares, compared to its average volume of 5,288,557. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86. The company's 50 day simple moving average is $9.04 and its two-hundred day simple moving average is $8.90. The company has a market cap of $2.73 billion, a P/E ratio of -9.21 and a beta of 1.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. As a group, sell-side analysts expect that Goodyear Tire & Rubber will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $13.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC lifted its position in shares of Goodyear Tire & Rubber by 2,122.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock valued at $35,000 after buying an additional 3,778 shares in the last quarter. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after acquiring an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Signaturefd LLC increased its stake in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the 4th quarter worth approximately $54,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

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.