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

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

Analysts Set New Price Targets

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

Goodyear Tire & Rubber Trading Down 0.5 %

Shares of GT stock traded down $0.04 during trading hours on Tuesday, reaching $8.20. 1,701,905 shares of the stock traded hands, compared to its average volume of 4,544,795. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $13.86. The business has a fifty day moving average price of $9.18 and a 200 day moving average price of $8.94. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.34 billion, a PE ratio of -7.87 and a beta of 1.79.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GT. Sanctuary Advisors LLC bought a new stake in Goodyear Tire & Rubber in the second quarter worth approximately $178,000. Inspire Investing LLC boosted its holdings in Goodyear Tire & Rubber by 50.9% in the 3rd quarter. Inspire Investing LLC now owns 51,799 shares of the company’s stock valued at $458,000 after purchasing an additional 17,476 shares during the period. Sound Income Strategies LLC increased 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 worth $35,000 after purchasing an additional 3,778 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Goodyear Tire & Rubber during the 3rd quarter worth about $649,000. Finally, Inspire Advisors LLC grew its holdings in Goodyear Tire & Rubber by 28.8% during the 3rd quarter. Inspire Advisors LLC now owns 18,846 shares of the company’s stock worth $167,000 after acquiring an additional 4,209 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.