Investors Purchase Large Volume of Goodyear Tire & Rubber Call Options (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) saw unusually large options trading activity on Monday. Stock investors purchased 21,743 call options on the stock. This represents an increase of approximately 254% compared to the average daily volume of 6,146 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GT. Teacher Retirement System of Texas purchased a new stake in Goodyear Tire & Rubber during the first quarter valued at approximately $366,000. Sippican Capital Advisors boosted its stake in Goodyear Tire & Rubber by 89.1% during the first quarter. Sippican Capital Advisors now owns 176,948 shares of the company's stock worth $1,635,000 after buying an additional 83,363 shares during the period. Vontobel Holding Ltd. increased its position in Goodyear Tire & Rubber by 60.2% during the first quarter. Vontobel Holding Ltd. now owns 46,313 shares of the company's stock valued at $428,000 after acquiring an additional 17,405 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Goodyear Tire & Rubber by 2.6% in the first quarter. New York State Teachers Retirement System now owns 295,375 shares of the company's stock valued at $2,729,000 after acquiring an additional 7,608 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new stake in shares of Goodyear Tire & Rubber in the 1st quarter worth about $308,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Monday, March 31st. StockNews.com lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.78.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock traded up $0.13 during midday trading on Monday, reaching $11.07. 5,307,875 shares of the company traded hands, compared to its average volume of 5,101,583. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.26. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 46.13 and a beta of 1.49. The business has a 50 day moving average of $9.49 and a two-hundred day moving average of $9.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates 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, research analysts predict that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

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.

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