Wall Street Analyst Initiated The Goodyear Tire & Rubber Company [GT]. What else is Wall St. saying

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The Goodyear Tire & Rubber Company [NASDAQ: GT] traded at a low on 05/09/22, posting a -7.68 loss after which it closed the day’ session at $11.36. The company report on May 6, 2022 that GOODYEAR REPORTS FIRST QUARTER 2022 RESULTS.

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Net sales growth of 40% compared with the first quarter of 2021, 20% growth excluding the Cooper Tire transaction and foreign currency .

First quarter Goodyear net income of $96 million; adjusted net income of $105 million.

The results of the trading session contributed to over 9853945 shares changing hands. Over the past one week, the price volatility of The Goodyear Tire & Rubber Company stands at 7.72% while the volatility over the past one month is 5.33%.

The market cap for GT stock reached $3.54 billion, with 282.00 million shares outstanding and 280.83 million shares in the current float. Compared to the average trading volume of 7.76M shares, GT reached a trading volume of 9853945 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 $18.75 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 2.20. 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 0.73, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.20. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 3.49. Price to Free Cash Flow for GT in the course of the last twelve months was 6.73 with Quick ratio for the last quarter at 0.60.

How has GT stock performed recently?

The Goodyear Tire & Rubber Company [GT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.23. With this latest performance, GT shares dropped by -10.65% in over the last four-week period, additionally sinking by -52.92% over the last 6 months – not to mention a drop of -40.62% 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 33.41, with the RSI for the last a single of trading hit 28.95, and the three-weeks RSI is set at 35.87 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 13.59, while it was recorded at 13.08 for the last single week of trading, and 17.77 for the last 200 days.

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

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 analysis for The Goodyear Tire & Rubber Company [GT]

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%.

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

There are presently around $2,813 million, or 89.50% 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 $317.22 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $220.87 million in GT stock with ownership of nearly 1.845% of the company’s market capitalization.

230 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 31,830,060 shares. Additionally, 166 investors decreased positions by around 20,322,279 shares, while 69 investors held positions by with 195,338,609 shares. The mentioned changes placed institutional holdings at 247,490,948 shares, according to the latest SEC report filing. GT stock had 103 new institutional investments in for a total of 15,386,520 shares, while 39 institutional investors sold positions of 2,931,643 shares during the same period.