The Goodyear Tire & Rubber Company [GT] Stock trading around $17.89 per share: What’s Next?

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The Goodyear Tire & Rubber Company [NASDAQ: GT] closed the trading session at $17.89 on 04/08/21. The day’s price range saw the stock hit a low of $17.28, while the highest price level was $17.95. The company report on April 1, 2021 that Goodyear Announces Pricing Of $1 Billion Of Senior Notes.

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The Goodyear Tire & Rubber Company (NASDAQ: GT) announced that it has priced its public offering of $550 million aggregate principal amount of senior notes due 2031 (the “2031 notes”) and $450 million aggregate principal amount of senior notes due 2033 (the “2033 notes,” and together with the 2031 notes, the “notes”). The notes will be senior unsecured obligations of the company.

The 2031 notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 5.250% per annum. The 2033 notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 5.625% per annum. Goodyear expects the offering to close on April 6, 2021, subject to customary closing conditions.

The stocks have a year to date performance of 63.98 percent and weekly performance of 1.82 percent. The stock has been moved at 102.15 percent over the last six months. The stock has performed -0.89 percent around the most recent 30 days and changed 65.96 percent over the most recent 3-months.

If compared to the average trading volume of 4.79M shares, GT reached to a volume of 3032032 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 $17.75 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 2.00. 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.

Argus 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 February 16, 2021. The new note on the price target was released on February 10, 2021, representing the official price target for The Goodyear Tire & Rubber Company stock. Previously, the target price had yet another raise to $14, while KeyBanc Capital Markets analysts kept a Overweight rating on GT stock. On January 04, 2021, analysts decreased their price target for GT shares from 10 to 7.

The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.74, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 6.52. Price to Free Cash Flow for GT in the course of the last twelve months was 9.80 with Quick ratio for the last quarter at 0.70.

GT stock trade performance evaluation

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 1.82. With this latest performance, GT shares dropped by -0.89% in over the last four-week period, additionally plugging by 102.15% over the last 6 months – not to mention a rise of 181.73% 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 59.96, with the RSI for the last a single of trading hit 60.13, and the three-weeks RSI is set at 60.94 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 15.84, while it was recorded at 17.72 for the last single week of trading, and 11.31 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 -0.87 and a Gross Margin at +20.09. The Goodyear Tire & Rubber Company’s Net Margin is presently recorded at -10.18.

Return on Total Capital for GT is now -1.01, given the latest momentum, and Return on Invested Capital for the company is -13.22. Return on Equity for this stock declined to -33.76, with Return on Assets sitting at -7.44. 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 223.26. Additionally, GT Total Debt to Total Capital is recorded at 69.07, with Total Debt to Total Assets ending up at 41.63. Long-Term Debt to Equity for the company is recorded at 198.70, with the Long-Term Debt to Total Capital now at 61.47.

Reflecting on the efficiency of the workforce at the company, The Goodyear Tire & Rubber Company [GT] managed to generate an average of -$20,226 per employee. Receivables Turnover for the company is 6.78 with a Total Asset Turnover recorded at a value of 0.73.The Goodyear Tire & Rubber Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.10.

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 -0.6/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -200.00%. 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 9.13%.

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

There are presently around $3,327 million, or 83.00% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 27,779,195, which is approximately 8.534% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 20,781,493 shares of the stock with an approximate value of $371.78 million in GT stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $213.58 million in GT stock with ownership of nearly -0.822% of the company’s market capitalization.

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Positions in The Goodyear Tire & Rubber Company stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 128 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 19,445,652 shares. Additionally, 156 investors decreased positions by around 17,606,679 shares, while 63 investors held positions by with 148,913,431 shares. The mentioned changes placed institutional holdings at 185,965,762 shares, according to the latest SEC report filing. GT stock had 60 new institutional investments in for a total of 5,517,440 shares, while 33 institutional investors sold positions of 8,955,233 shares during the same period.

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