Wednesday, October 28, 2020

The Goodyear Tire & Rubber Company [GT] is -48.44% lower this YTD. Is it still time to buy?

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The Goodyear Tire & Rubber Company [NASDAQ: GT] plunged by -$0.57 during the normal trading session on Monday and reaching a high of $8.42 during the day while it closed the day at $8.02. The company report on September 10, 2020 that Goodyear Increases Transparency, Progresses Toward Goals In Annual Corporate Responsibility Report.

The Goodyear Tire & Rubber Company (NASDAQ: GT) released its annual report on corporate responsibility performance. The report summarizes the company’s actions in 2019 that demonstrate Goodyear’s continued commitment to ethical and sustainable processes, materials and programs that can help people, communities and the environment.

“As the world continues to battle the COVID-19 pandemic and the uncertainty that brings, it’s important to find steadiness where we can,” said Richard J. Kramer, chairman, chief executive officer and president. “For Goodyear, that means relying on our foundation of ethical values, our commitment to responsible operations, our focus on the health and wellbeing of our associates, customers and communities, as well as our work to reduce our impact on the environment.”.

The Goodyear Tire & Rubber Company stock has also loss -17.91% of its value over the past 7 days. However, GT stock has declined by -6.20% in the 3 months of the year. Over the past six months meanwhile, it has gained 52.18% and lost -48.44% year-on date.

The market cap for GT stock reached $1.95 billion, with 234.00 million shares outstanding and 232.35 million shares in the current float. Compared to the average trading volume of 4.20M shares, GT reached a trading volume of 4699178 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about The Goodyear Tire & Rubber Company [GT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GT shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GT stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Nomura have made an estimate for The Goodyear Tire & Rubber Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 03, 2020. The new note on the price target was released on March 30, 2020, representing the official price target for The Goodyear Tire & Rubber Company stock. On February 12, 2020, analysts decreased their price target for GT shares from 20 to 14.

The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.39, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.15. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 4.14.

GT stock trade performance evaluation

The Goodyear Tire & Rubber Company [GT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.91. With this latest performance, GT shares dropped by -15.22% in over the last four-week period, additionally plugging by 52.18% over the last 6 months – not to mention a drop of -41.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GT stock in for the last two-week period is set at 26.43, with the RSI for the last a single of trading hit 18.48, and the three-weeks RSI is set at 34.12 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 9.56, while it was recorded at 8.89 for the last single week of trading, and 9.90 for the last 200 days.

The Goodyear Tire & Rubber Company [GT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The Goodyear Tire & Rubber Company [GT] shares currently have an operating margin of +5.57 and a Gross Margin at +24.24. The Goodyear Tire & Rubber Company’s Net Margin is presently recorded at -2.11.

Return on Total Capital for GT is now 7.49, given the latest momentum, and Return on Invested Capital for the company is -3.15. Return on Equity for this stock declined to -6.75, with Return on Assets sitting at -1.83. When it comes to the capital structure of this company, The Goodyear Tire & Rubber Company [GT] has a Total Debt to Total Equity ratio set at 150.08. Additionally, GT Total Debt to Total Capital is recorded at 60.01, with Total Debt to Total Assets ending up at 38.00. Long-Term Debt to Equity for the company is recorded at 124.59, with the Long-Term Debt to Total Capital now at 49.82.

Reflecting on the efficiency of the workforce at the company, The Goodyear Tire & Rubber Company [GT] managed to generate an average of -$4,937 per employee. Receivables Turnover for the company is 7.43 with a Total Asset Turnover recorded at a value of 0.87.The Goodyear Tire & Rubber Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for The Goodyear Tire & Rubber Company [GT] stock

With the latest financial reports released by the company, The Goodyear Tire & Rubber Company posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Goodyear Tire & Rubber Company go to 2.41%.

The Goodyear Tire & Rubber Company [GT]: Insider Ownership positions

There are presently around $1,505 million, or 84.60% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 29,148,398, which is approximately 11.916% of the company’s market cap and around 0.28% of the total institutional ownership; VANGUARD GROUP INC, holding 21,596,812 shares of the stock with an approximate value of $173.21 million in GT stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $93.44 million in GT stock with ownership of nearly 0.241% of the company’s market capitalization.

Positions in The Goodyear Tire & Rubber Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 148 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 27,638,447 shares. Additionally, 178 investors decreased positions by around 28,866,869 shares, while 46 investors held positions by with 131,187,267 shares. The mentioned changes placed institutional holdings at 187,692,583 shares, according to the latest SEC report filing. GT stock had 50 new institutional investments in for a total of 8,623,061 shares, while 65 institutional investors sold positions of 6,393,035 shares during the same period.

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