The Goodyear Tire & Rubber Company (NASDAQ:GT) Sees Large Growth in Short Interest

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 16,920,000 shares, an increase of 5.3% from the February 29th total of 16,070,000 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily volume of 3,930,000 shares, the short-interest ratio is presently 4.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ancora Advisors LLC increased its position in Goodyear Tire & Rubber by 142.9% in the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company's stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at about $33,000. Headinvest LLC bought a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at about $34,000. Finally, First Manhattan Co. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at about $31,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

GT stock traded down $0.19 during midday trading on Friday, reaching $12.95. 1,834,949 shares of the stock were exchanged, compared to its average volume of 3,894,114. The stock has a market capitalization of $3.68 billion, a PE ratio of -5.37 and a beta of 1.85. Goodyear Tire & Rubber has a 52 week low of $10.12 and a 52 week high of $16.50. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 0.55. The company has a fifty day moving average price of $12.85 and a 200 day moving average price of $13.16.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.36 by $0.11. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.38 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The business's quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. As a group, analysts expect that Goodyear Tire & Rubber will post 1.12 EPS for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.