The Goodyear Tire & Rubber Company [GT] Is Currently 2.57 below its 200 Period Moving Avg: What Does This Mean?



The Goodyear Tire & Rubber Company [NASDAQ: GT] stock went on an upward path that rose over 2.57% on Wednesday, amounting to a one-week price increase of more than 4.70%. The company report on January 11, 2022 that COOPER TIRE’S DISCOVERER RUGGED TREK WINS GLOBAL 2021 GOOD DESIGN AWARD.

The tire’s tread pattern and unique, customizable sidewall earned it the most recognized design award in the world.

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The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced the Cooper Tire Discoverer Rugged Trek all-terrain tire earned a 2021 GOOD DESIGN award from the Chicago Athenaeum Museum of Architecture and Design. Founded in 1950, GOOD DESIGN is the oldest and most recognized program for design excellence worldwide. The tire is being honored for its design excellence and was selected from more than 1,100 entries spanning over 50 countries.

Over the last 12 months, GT stock rose by 94.94%. The one-year The Goodyear Tire & Rubber Company stock forecast points to a potential upside of 6.42. The average equity rating for GT stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.53 billion, with 283.00 million shares outstanding and 280.45 million shares in the current float. Compared to the average trading volume of 3.72M shares, GT stock reached a trading volume of 4014016 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $24.29 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 2.20. 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.

Deutsche Bank 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 December 08, 2021. The new note on the price target was released on April 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 Argus analysts kept a Buy rating on GT stock.

The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.98, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.41. The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 4.13. Price to Free Cash Flow for GT in the course of the last twelve months was 12.41 with Quick ratio for the last quarter at 0.70.

GT Stock Performance Analysis:

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 4.70. With this latest performance, GT shares gained by 10.72% in over the last four-week period, additionally plugging by 39.96% over the last 6 months – not to mention a rise of 94.94% 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 60.40, with the RSI for the last a single of trading hit 64.20, and the three-weeks RSI is set at 58.22 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 21.67, while it was recorded at 22.14 for the last single week of trading, and 18.61 for the last 200 days.

Insight into The Goodyear Tire & Rubber Company Fundamentals:

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 1.20.

GT Stock EPS

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%.

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The Goodyear Tire & Rubber Company [GT] Insider Position Details

There are presently around $5,270 million, or 86.10% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 31,688,727, which is approximately -9.729% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 26,960,353 shares of the stock with an approximate value of $612.81 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $433.73 million in GT stock with ownership of nearly 60.529% of the company’s market capitalization.

Positions in The Goodyear Tire & Rubber Company stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 141 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 37,229,352 shares. Additionally, 188 investors decreased positions by around 33,097,952 shares, while 67 investors held positions by with 161,535,129 shares. The mentioned changes placed institutional holdings at 231,862,433 shares, according to the latest SEC report filing. GT stock had 51 new institutional investments in for a total of 13,873,813 shares, while 47 institutional investors sold positions of 9,403,097 shares during the same period.