The Goodyear Tire & Rubber Company [GT] Stock trading around $10.00 per share: What’s Next?

The Goodyear Tire & Rubber Company [NASDAQ: GT] plunged by -$0.32 during the normal trading session on Tuesday and reaching a high of $10.47 during the day while it closed the day at $10.00. The company report on November 8, 2022 that GOODYEAR, DRIVE TLV JOIN FORCES TO EXPLORE ADVANCED MOBILITY SOLUTIONS WITH ISRAELI STARTUPS.

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Drive TLV will strengthen Goodyear’s connections within the Israeli mobility ecosystem.

Goodyear will offer collaboration and investment opportunities for Drive’s startup network.

The Goodyear Tire & Rubber Company stock has also loss -7.49% of its value over the past 7 days. However, GT stock has declined by -28.47% in the 3 months of the year. Over the past six months meanwhile, it has lost -14.82% and lost -53.10% year-on date.

The market cap for GT stock reached $3.32 billion, with 284.00 million shares outstanding and 281.44 million shares in the current float. Compared to the average trading volume of 4.49M shares, GT reached a trading volume of 7583445 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $15.00 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 0.59, 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 0.55, with the Price to Cash per share for the same quarter was set at 3.76.

GT stock trade performance evaluation

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 -7.49. With this latest performance, GT shares dropped by -9.42% in over the last four-week period, additionally sinking by -14.82% over the last 6 months – not to mention a drop of -56.67% 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 36.89, with the RSI for the last a single of trading hit 33.76, and the three-weeks RSI is set at 38.93 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 10.11 for the last single week of trading, and 13.29 for the last 200 days.

The Goodyear Tire & Rubber Company [GT]: An insightful look at the core 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 per share (EPS) analysis for The Goodyear Tire & Rubber Company [GT] stock

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 Ownership positions

There are presently around $2,339 million, or 82.70% 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 $281.49 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $206.91 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 October and at the time of the October reporting period, where 193 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 22,495,760 shares. Additionally, 191 investors decreased positions by around 22,555,724 shares, while 76 investors held positions by with 188,884,026 shares. The mentioned changes placed institutional holdings at 233,935,510 shares, according to the latest SEC report filing. GT stock had 68 new institutional investments in for a total of 6,148,846 shares, while 59 institutional investors sold positions of 9,808,458 shares during the same period.


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