Deutsche Bank lifts The Goodyear Tire & Rubber Company [GT] price estimate. Who else is bullish?

The Goodyear Tire & Rubber Company [NASDAQ: GT] traded at a low on 10/12/22, posting a -0.36 loss after which it closed the day’ session at $11.08. The company report on September 28, 2022 that GOODYEAR SURVEY UNCOVERS COLLEGE FOOTBALL’S TOUGHEST ROAD GAME ENVIRONMENTS, ASKS FANS TO WEIGH IN.

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Video starring Robert Griffin III and ‘Road Tested’ sweepstakes inspire fans to give their take on college football’s most challenging road game environment.

This college football season, The Goodyear Tire & Rubber Company (NASDAQ: GT) is celebrating the fans and players that venture from their home stadiums to take on the challenges of road games each week. To gain an inside look at the drive it takes to win on the road, Goodyear and The Player’s Tribune surveyed 68 former Football Bowl Subdivision (FBS) players to uncover college football’s toughest road environments and fan traditions.

The results of the trading session contributed to over 2946108 shares changing hands. Over the past one week, the price volatility of The Goodyear Tire & Rubber Company stands at 3.51% while the volatility over the past one month is 4.63%.

The market cap for GT stock reached $3.17 billion, with 284.00 million shares outstanding and 281.64 million shares in the current float. Compared to the average trading volume of 4.14M shares, GT reached a trading volume of 2946108 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 $16.80 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 2.00. 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 0.16. The Price to Book ratio for the last quarter was 0.61, with the Price to Cash per share for the same quarter was set at 4.36.

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 -3.15. With this latest performance, GT shares dropped by -17.50% in over the last four-week period, additionally sinking by -15.42% 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 40.32, with the RSI for the last a single of trading hit 41.48, and the three-weeks RSI is set at 41.25 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 13.06, while it was recorded at 11.11 for the last single week of trading, and 14.33 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 1.30.

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 $2,558 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 $311.89 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $229.26 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 November and at the time of the November reporting period, where 198 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 18,000,635 shares. Additionally, 181 investors decreased positions by around 27,364,934 shares, while 77 investors held positions by with 185,507,581 shares. The mentioned changes placed institutional holdings at 230,873,150 shares, according to the latest SEC report filing. GT stock had 61 new institutional investments in for a total of 3,619,259 shares, while 57 institutional investors sold positions of 11,150,745 shares during the same period.


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