The Goodyear Tire & Rubber Company [GT] stock Downgrade by Deutsche Bank analyst, price target now $15

The Goodyear Tire & Rubber Company [NASDAQ: GT] gained 0.22% on the last trading session, reaching $13.63 price per share at the time. The company report on September 7, 2022 that TERRAIN TAMED: GOODYEAR’S NEW MIXED SERVICE DRIVE TIRE, ARMOR MAX ESD, DELIVERS DURABILITY AND TRACTION IN SEVERE APPLICATIONS.

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The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a new addition to its hard-working Armor Max® lineup, the Goodyear Armor Max Extreme Service Drive (ESD) tire. Engineered to tackle tough jobs in extreme environments, Armor Max ESD is Goodyear’s best commercial mixed service drive tire for durability and traction in severe applications.

Armor Max ESD is now available in 11R22.5 H and 11R24.5 H sizes to meet the demanding needs of the premium mixed-service segment. Specifically designed for heavy duty construction, logging, oil and mining work vehicles, its tread compound helps resist cuts, chips and tears and provides durability.

The Goodyear Tire & Rubber Company represents 284.00 million in outstanding shares, while the company has a total market value of $3.92 billion with the latest information. GT stock price has been found in the range of $13.185 to $13.64.

If compared to the average trading volume of 4.27M shares, GT reached a trading volume of 3631752 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $17.30 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 0.58, 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 0.75, with the Price to Cash per share for the same quarter was set at 4.34.

Trading performance analysis for GT stock

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 -2.85. With this latest performance, GT shares gained by 2.10% in over the last four-week period, additionally plugging by 3.81% over the last 6 months – not to mention a drop of -13.46% 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 48.43, with the RSI for the last a single of trading hit 43.60, and the three-weeks RSI is set at 51.06 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 12.81, while it was recorded at 13.56 for the last single week of trading, and 15.42 for the last 200 days.

The Goodyear Tire & Rubber Company [GT]: A deeper dive into fundamental analysis

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 1.30.

The Goodyear Tire & Rubber Company [GT]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at The Goodyear Tire & Rubber Company [GT]

There are presently around $3,163 million, or 83.40% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 35,214,145, which is approximately -1.546% of the company’s market cap and around 0.41% of the total institutional ownership; VANGUARD GROUP INC, holding 28,148,866 shares of the stock with an approximate value of $383.67 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $282.02 million in GT stock with ownership of nearly -1.272% 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 208 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 18,591,502 shares. Additionally, 180 investors decreased positions by around 26,721,599 shares, while 79 investors held positions by with 186,760,681 shares. The mentioned changes placed institutional holdings at 232,073,782 shares, according to the latest SEC report filing. GT stock had 61 new institutional investments in for a total of 3,750,586 shares, while 60 institutional investors sold positions of 10,792,711 shares during the same period.


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