The Goodyear Tire & Rubber Company [GT] Stock trading around $11.88 per share: What’s Next?

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The Goodyear Tire & Rubber Company [NASDAQ: GT] jumped around 0.61 points on Monday, while shares priced at $11.88 at the close of the session, up 5.41%. The company report on May 10, 2022 that GOODYEAR’S HARDWORKING ENDURANCE™ WHA BECOMES THE COMPANY’S FIRST WASTE HAUL TIRE TO BE MADE WITH A MORE SUSTAINABLE SOYBEAN OIL TREAD COMPOUND.


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The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced at the 2022 Waste Expo trade show, a new formulation of its popular Endurance™ WHA waste haul tire made with a renewable soybean oil compound. The Endurance WHA is now made with soybean oil, which replaces a portion of the petroleum-based materials used in its production. The soybean oil in the tire is a bio-based material currently sourced from surplus left over from food applications and is another step in Goodyear’s global journey to fully replace petroleum-derived oils by 2040.

“Producing the new Endurance WHA tire lineup with a sustainable soybean oil compound will help waste haul fleets pursue their sustainability goals while delivering the long hours to removal that the Endurance WHA tire is known for,” said Jessica Julian, commercial product marketing manager, Goodyear North America. “In each new Endurance WHA tire, soybean oil will replace almost 16 liquid ounces of free-flowing petroleum oil – almost as much as a 16-ounce red plastic party cup. When you multiply that by a moderately-sized regional waste haul fleet of around 500 trucks, it could decrease petroleum-based products by the equivalent of almost 15 barrels of oil.”.

The Goodyear Tire & Rubber Company stock is now -44.28% down from its year-to-date (YTD) trading value. GT Stock saw the intraday high of $12.02 and lowest of $11.19 per share. The company’s 52-week high price is 24.89, which means current price is +9.09% above from all time high which was touched on 01/14/22.

Compared to the average trading volume of 6.47M shares, GT reached a trading volume of 6739461 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 $18.04 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.

Nomura 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 May 10, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Neutral. The new note on the price target was released on April 11, 2022, representing the official price target for The Goodyear Tire & Rubber Company stock. On February 14, 2022, analysts increased their price target for GT shares from 14 to 15.

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 0.18. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 3.60.

How has GT stock performed recently?

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 0.34. With this latest performance, GT shares dropped by -10.07% in over the last four-week period, additionally sinking by -45.60% over the last 6 months – not to mention a drop of -37.61% 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 44.58, with the RSI for the last a single of trading hit 46.23, and the three-weeks RSI is set at 43.64 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 13.19, while it was recorded at 11.77 for the last single week of trading, and 17.57 for the last 200 days.

The Goodyear Tire & Rubber Company [GT]: Deeper insight into the 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 0.70 and a Current Ratio set at 1.20.

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 $2,705 million, or 87.30% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 35,767,231, which is approximately 7.609% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 28,349,435 shares of the stock with an approximate value of $319.5 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $236.2 million in GT stock with ownership of nearly 7.842% of the company’s market capitalization.

Positions in The Goodyear Tire & Rubber Company stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 231 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 32,856,782 shares. Additionally, 192 investors decreased positions by around 33,280,477 shares, while 69 investors held positions by with 173,892,371 shares. The mentioned changes placed institutional holdings at 240,029,630 shares, according to the latest SEC report filing. GT stock had 93 new institutional investments in for a total of 9,976,189 shares, while 77 institutional investors sold positions of 15,448,849 shares during the same period.

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