The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 23,617 call options on the company. This represents an increase of approximately 334% compared to the typical volume of 5,444 call options.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a report on Monday, March 31st. Finally, StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and a consensus target price of $13.78.
Read Our Latest Stock Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Stock Performance
GT stock traded down $0.36 during trading on Tuesday, hitting $8.46. 4,033,172 shares of the company's stock traded hands, compared to its average volume of 4,867,893. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 35.07 and a beta of 1.49. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $13.48. The stock has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $9.12. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, equities analysts anticipate that Goodyear Tire & Rubber will post 1.5 EPS for the current fiscal year.
Hedge Funds Weigh In On Goodyear Tire & Rubber
Several institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its holdings in Goodyear Tire & Rubber by 251.8% during 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 last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $46,000. Signaturefd LLC boosted its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 84.19% of the company's stock.
About Goodyear Tire & Rubber
(
Get Free Report)
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.
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