The Goodyear Tire & Rubber Company [GT] Stock trading around $10.91 per share: What’s Next?


The Goodyear Tire & Rubber Company [NASDAQ: GT] stock went on a downward path that fall over -1.18% on Monday, amounting to a one-week price increase of more than 1.68%. The company report on June 23, 2022 that GOODYEAR FURTHER DEMONSTRATES ITS COMMITMENT TO CORPORATE RESPONSIBILITY IN 2021 REPORT.

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The Goodyear Tire & Rubber Company (NASDAQ: GT) today released its report on corporate responsibility performance for 2021. The report summarizes the progress the company made toward achieving its short- and long-term sustainability goals while further demonstrating its commitment to ethical and sustainable processes, materials and programs.

“While our 2021 report affords us the opportunity to reflect on the progress we have made along our sustainability journey, it is also an opportunity for us to look ahead,” said Chairman, CEO and President Richard J. Kramer. “Sustainability is a cornerstone of our business strategy and an integral part of our culture. Our engaged team of more than 70,000 Goodyear associates around the world will continue to deliver high-quality products and advanced mobility solutions enabled by responsibly managed materials in an efficient, responsible manner. We are committed to helping our customers reach their sustainability goals and to building a better future to keep the world moving today and tomorrow.”.

Over the last 12 months, GT stock dropped by -30.02%. The one-year The Goodyear Tire & Rubber Company stock forecast points to a potential upside of 39.52. 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 $3.02 billion, with 284.00 million shares outstanding and 281.30 million shares in the current float. Compared to the average trading volume of 4.92M shares, GT stock reached a trading volume of 6637755 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 $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.

Deutsche Bank have made an estimate for The Goodyear Tire & Rubber Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 18, 2022. While these analysts kept the previous recommendation, Nomura raised their target price from $15 to $15.30. The new note on the price target was released on May 10, 2022, representing the official price target for The Goodyear Tire & Rubber Company stock.

The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.59, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.16. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 3.80.

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 1.68. With this latest performance, GT shares dropped by -7.70% in over the last four-week period, additionally sinking by -53.48% over the last 6 months – not to mention a drop of -30.02% 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 45.45, and the three-weeks RSI is set at 44.31 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 11.74, while it was recorded at 10.93 for the last single week of trading, and 16.72 for the last 200 days.

Insight into The Goodyear Tire & Rubber Company 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.

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%.

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

There are presently around $2,630 million, or 86.80% 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 $312.98 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $231.38 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 August and at the time of the August reporting period, where 221 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 30,719,840 shares. Additionally, 198 investors decreased positions by around 35,485,805 shares, while 70 investors held positions by with 171,992,861 shares. The mentioned changes placed institutional holdings at 238,198,506 shares, according to the latest SEC report filing. GT stock had 80 new institutional investments in for a total of 7,759,547 shares, while 85 institutional investors sold positions of 17,533,668 shares during the same period.