The Goodyear Tire & Rubber Company [NASDAQ: GT] surged by $0.95 during the normal trading session on Wednesday and reaching a high of $19.30 during the day while it closed the day at $19.23. The company report on April 30, 2021 that Goodyear Reports First Quarter 2021 Results.
First quarter Goodyear net income of $12 million; adjusted net income of $102 million.
First quarter segment operating income of $226 million, strongest first quarter since 2018.
The Goodyear Tire & Rubber Company stock has also gained 6.36% of its value over the past 7 days. However, GT stock has inclined by 65.92% in the 3 months of the year. Over the past six months meanwhile, it has gained 122.96% and gained 76.26% year-on date.
The market cap for GT stock reached $4.62 billion, with 235.00 million shares outstanding and 232.51 million shares in the current float. Compared to the average trading volume of 4.97M shares, GT reached a trading volume of 7233293 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 $18.43 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.
Morgan Stanley have made an estimate for The Goodyear Tire & Rubber Company shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on April 16, 2021. The new note on the price target was released on February 16, 2021, representing the official price target for The Goodyear Tire & Rubber Company stock. Previously, the target price had yet another raise to $16, while Morgan Stanley analysts kept a Overweight rating on GT stock.
The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.69, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.38. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 5.09. Price to Free Cash Flow for GT in the course of the last twelve months was 5.98 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 6.36. With this latest performance, GT shares gained by 7.25% in over the last four-week period, additionally plugging by 122.96% over the last 6 months – not to mention a rise of 213.19% 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 64.98, with the RSI for the last a single of trading hit 68.98, and the three-weeks RSI is set at 63.23 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 17.68, while it was recorded at 18.04 for the last single week of trading, and 12.15 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 -1.87/share EPS, while the average EPS was predicted by analysts to be reported at -2.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.70%. 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 $3,404 million, or 83.20% 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 $379.89 million in GT stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $218.24 million in GT stock with ownership of nearly -0.822% of the company’s market capitalization.
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 131 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 20,312,273 shares. Additionally, 153 investors decreased positions by around 17,042,937 shares, while 67 investors held positions by with 148,862,796 shares. The mentioned changes placed institutional holdings at 186,218,006 shares, according to the latest SEC report filing. GT stock had 59 new institutional investments in for a total of 5,794,705 shares, while 37 institutional investors sold positions of 8,693,273 shares during the same period.