why The Goodyear Tire & Rubber Company [GT] is a Good Choice for Investors After New Price Target of $17.55

The Goodyear Tire & Rubber Company [NASDAQ: GT] jumped around 0.63 points on Wednesday, while shares priced at $13.98 at the close of the session, up 4.72%. The company report on August 5, 2022 that GOODYEAR REPORTS SECOND QUARTER, FIRST HALF 2022 RESULTS.

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Net sales growth of 31% compared with the second quarter of 2021, over 15% growth excluding the Cooper Tire transaction.

Second quarter Goodyear net income of $166 million; adjusted net income of $131 million.

The Goodyear Tire & Rubber Company stock is now -34.43% down from its year-to-date (YTD) trading value. GT Stock saw the intraday high of $14.01 and lowest of $13.65 per share. The company’s 52-week high price is 24.89, which means current price is +35.33% above from all time high which was touched on 01/14/22.

Compared to the average trading volume of 4.56M shares, GT reached a trading volume of 4568218 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 $17.55 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 2.10. 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 0.56, 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 0.77, with the Price to Cash per share for the same quarter was set at 3.92. Price to Free Cash Flow for GT in the course of the last twelve months was 46.32 with Quick ratio for the last quarter at 0.70.

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 9.91. With this latest performance, GT shares gained by 27.67% in over the last four-week period, additionally sinking by -34.64% over the last 6 months – not to mention a drop of -17.28% 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 70.87, with the RSI for the last a single of trading hit 77.24, and the three-weeks RSI is set at 64.98 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 11.89, while it was recorded at 13.35 for the last single week of trading, and 16.16 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 $3,288 million, or 85.10% 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 $396.32 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $293.0 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 206 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 25,286,467 shares. Additionally, 206 investors decreased positions by around 37,778,453 shares, while 78 investors held positions by with 172,144,474 shares. The mentioned changes placed institutional holdings at 235,209,394 shares, according to the latest SEC report filing. GT stock had 65 new institutional investments in for a total of 6,506,947 shares, while 79 institutional investors sold positions of 17,070,785 shares during the same period.


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