why The Goodyear Tire & Rubber Company [GT] is a Good Choice for Investors After New Price Target of $21.00


The Goodyear Tire & Rubber Company [NASDAQ: GT] closed the trading session at $13.93 on 04/19/22. The day’s price range saw the stock hit a low of $13.27, while the highest price level was $14.085. The company report on April 11, 2022 that THE GOODYEAR 400 RETURNS: GOODYEAR EXTENDS ENTITLEMENT SPONSORSHIP OF NASCAR’S OFFICIAL THROWBACK WEEKEND CUP SERIES RACE.

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Goodyear Eagle race tires to feature vintage design inspired by 1980-1992 race seasons.

Goodyear (NASDAQ: GT), the “Official Tire of NASCAR,” is renewing its entitlement sponsorship of the Goodyear 400, NASCAR’s Official Throwback Weekend Cup Series race for 2022.

The stocks have a year to date performance of -34.66 percent and weekly performance of 6.09 percent. The stock has been moved at -26.76 percent over the last six months. The stock has performed -2.18 percent around the most recent 30 days and changed -39.70 percent over the most recent 3-months.

If compared to the average trading volume of 7.57M shares, GT reached to a volume of 5505905 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 $21.00 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 2.20. 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.

Exane BNP Paribas 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 April 11, 2022. The new note on the price target was released on February 22, 2022, representing the official price target for The Goodyear Tire & Rubber Company stock. Previously, the target price had yet another raise from $14 to $15, while Nomura kept a Neutral rating on GT stock. On February 14, 2022, analysts decreased their price target for GT shares from 25 to 23.

The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.56, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 3.84. Price to Free Cash Flow for GT in the course of the last twelve months was 48.78 with Quick ratio for the last quarter at 0.60.

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 6.09. With this latest performance, GT shares dropped by -2.18% in over the last four-week period, additionally sinking by -26.76% over the last 6 months – not to mention a drop of -19.36% 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 50.15, with the RSI for the last a single of trading hit 57.95, and the three-weeks RSI is set at 46.00 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 14.75, while it was recorded at 13.37 for the last single week of trading, and 17.97 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 +5.83 and a Gross Margin at +24.11. The Goodyear Tire & Rubber Company’s Net Margin is presently recorded at +4.37.

Return on Equity for this stock inclined to 18.92, with Return on Assets sitting at 4.03.

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 1.10.

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

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 $3,213 million, or 88.70% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 33,238,289, which is approximately 4.89% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 27,912,321 shares of the stock with an approximate value of $369.56 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $257.31 million in GT stock with ownership of nearly 1.845% 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 212 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 28,117,219 shares. Additionally, 162 investors decreased positions by around 21,471,051 shares, while 67 investors held positions by with 193,104,755 shares. The mentioned changes placed institutional holdings at 242,693,025 shares, according to the latest SEC report filing. GT stock had 90 new institutional investments in for a total of 13,560,345 shares, while 30 institutional investors sold positions of 2,199,968 shares during the same period.