Sunday, February 28, 2021

Northcoast slashes price target on The Goodyear Tire & Rubber Company [GT] – find out why.

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The Goodyear Tire & Rubber Company (GT): Keeping an Eye On The Long Term

The Goodyear Tire & Rubber Company (NASDAQ: GT) has acquired rival Cooper Tire & Rubber Company (NYSE: CTB) for $2.8 billion. The takeover will...

The Goodyear Tire & Rubber Company [NASDAQ: GT] jumped around 0.54 points on Friday, while shares priced at $11.00 at the close of the session, up 5.16%. The company report on October 21, 2020 that Goodyear To Announce Third Quarter 2020 Financial Results.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will report third quarter 2020 financial results on Friday, Oct. 30, to be followed by an investor conference call at 9:15 a.m. EDT.


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Prior to the commencement of the call, the company will post the financial and other related information that will be presented on its investor relations website: http://investor.goodyear.com.

The Goodyear Tire & Rubber Company stock is now -29.28% down from its year-to-date (YTD) trading value. GT Stock saw the intraday high of $11.02 and lowest of $10.55 per share. The company’s 52-week high price is 17.20, which means current price is +168.95% above from all time high which was touched on 01/02/20.

Compared to the average trading volume of 3.24M shares, GT reached a trading volume of 5217326 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $11.29 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 2.60. 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.

Northcoast have made an estimate for The Goodyear Tire & Rubber Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 01, 2020. The new note on the price target was released on August 03, 2020, representing the official price target for The Goodyear Tire & Rubber Company stock. Previously, the target price had yet another raise to $7.50, while Exane BNP Paribas analysts kept a Neutral rating on GT stock.

The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.40, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 4.54.

How has GT stock performed recently?

The Goodyear Tire & Rubber Company [GT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.59. With this latest performance, GT shares gained by 47.45% in over the last four-week period, additionally plugging by 50.68% over the last 6 months – not to mention a drop of -27.34% 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 78.22, with the RSI for the last a single of trading hit 87.44, and the three-weeks RSI is set at 70.75 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 9.26, while it was recorded at 10.19 for the last single week of trading, and 9.11 for the last 200 days.

The Goodyear Tire & Rubber Company [GT]: Deeper insight into the 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 analysis for The Goodyear Tire & Rubber Company [GT]

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 -2.42%.

Insider trade positions for The Goodyear Tire & Rubber Company [GT]

There are presently around $2,061 million, or 84.50% 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 $237.56 million in GT stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $128.16 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 151 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 27,503,506 shares. Additionally, 163 investors decreased positions by around 27,775,811 shares, while 47 investors held positions by with 132,093,449 shares. The mentioned changes placed institutional holdings at 187,372,766 shares, according to the latest SEC report filing. GT stock had 54 new institutional investments in for a total of 8,455,290 shares, while 59 institutional investors sold positions of 6,040,470 shares during the same period.

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