The Goodyear Tire & Rubber Company (NASDAQ:GT) Short Interest Update

The Goodyear Tire & Rubber Company (NASDAQ:GT) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 22,730,000 shares, a drop of 10.7% from the November 30th total of 25,460,000 shares. Based on an average trading volume of 5,420,000 shares, the short-interest ratio is currently 4.2 days. Currently, 8.7% of the shares of the stock are short sold.

Goodyear Tire & Rubber Trading Up 2.7 %

Shares of NASDAQ:GT traded up $0.24 during trading on Wednesday, reaching $9.00. The company’s stock had a trading volume of 3,482,586 shares, compared to its average volume of 4,325,393. The stock has a market capitalization of $2.56 billion, a PE ratio of -8.65 and a beta of 1.77. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $14.97. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The firm’s 50 day simple moving average is $9.38 and its two-hundred day simple moving average is $9.44.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. On average, research analysts predict that Goodyear Tire & Rubber will post 1.09 EPS for the current fiscal year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of Goodyear Tire & Rubber by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after buying an additional 71,410 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Goodyear Tire & Rubber by 19.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,526 shares of the company’s stock valued at $880,000 after acquiring an additional 12,384 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Goodyear Tire & Rubber by 2.0% in the second quarter. Commonwealth Equity Services LLC now owns 114,861 shares of the company’s stock worth $1,304,000 after purchasing an additional 2,262 shares during the period. nVerses Capital LLC lifted its position in shares of Goodyear Tire & Rubber by 80.7% during the second quarter. nVerses Capital LLC now owns 19,700 shares of the company’s stock worth $224,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at $185,000. 84.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Finally, StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and an average price target of $13.30.

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.