Goodyear Tire & Rubber Target of Unusually High Options Trading (NASDAQ:GT)

Key Points

• Traders purchased 11,588 call options on Goodyear Monday, roughly 75% above its average daily call volume, indicating unusually high bullish options activity.
• Large institutional moves were reported — Greenvale Capital opened a ~$106.3M stake, Marshall Wace boosted its position by 1,107.5% to 7.83M shares, and AQR more than doubled its holdings — leaving institutional ownership at 84.19%.
• Shares traded at $7.16 (market cap ~$2.05B); the company missed quarterly EPS ($0.39 vs. $0.45 consensus) and has a negative net margin, while analysts average a "Hold" rating with a $10.30 price target.

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) saw unusually large options trading activity on Monday. Traders purchased 11,588 call options on the stock. This represents an increase of approximately 75% compared to the average volume of 6,617 call options.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Institutional investors have recently added to or reduced their stakes in the company. Greenvale Capital LLP bought a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth about $106,292,000. Marshall Wace LLP increased its position in shares of Goodyear Tire & Rubber by 1,107.5% during the second quarter. Marshall Wace LLP now owns 7,825,605 shares of the company's stock valued at $81,152,000 after acquiring an additional 7,177,542 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Goodyear Tire & Rubber by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company's stock worth $85,540,000 after acquiring an additional 5,886,935 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Goodyear Tire & Rubber during the third quarter worth $32,301,000. Finally, Maple Rock Capital Partners Inc. boosted its position in Goodyear Tire & Rubber by 215.6% in the second quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company's stock worth $57,676,000 after purchasing an additional 3,799,383 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock traded down $0.34 during trading on Monday, hitting $7.16. 4,273,768 shares of the company's stock traded hands, compared to its average volume of 6,964,565. The company has a market cap of $2.05 billion, a PE ratio of -1.20, a PEG ratio of 0.32 and a beta of 1.12. The firm's fifty day moving average price is $9.10 and its 200 day moving average price is $8.40. Goodyear Tire & Rubber has a twelve month low of $6.51 and a twelve month high of $12.03. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. Analysts forecast that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GT. Weiss Ratings reissued a "sell (d-)" rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Morgan Stanley upped their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an "underweight" rating in a report on Friday, November 28th. Zacks Research lowered Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Finally, Citigroup boosted their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.30.

Goodyear Tire & Rubber Company Profile

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.

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