For The Goodyear Tire & Rubber Company [GT], Analyst sees a drop to $15. What next?

The Goodyear Tire & Rubber Company [NASDAQ: GT] plunged by -$0.65 during the normal trading session on while it closed the day at $10.93. The company report on November 14, 2022 that BUILT FOR THE LONG HAUL, NEW GOODYEAR WRANGLER HT TIRE DELIVERS ALL-SEASON DEPENDABILITY.

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The Market Leader in Light Truck Replacement Tires** Brings Enhanced Durability and Long-Lasting Performance to the All-Terrain Category.

The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a new addition to its lineup of hardworking Wrangler® tires, the Goodyear Wrangler Workhorse® HT. Engineered to deliver dependable all-season traction, the Wrangler Workhorse HT provides a smooth, confident ride and the strength to go the extra mile.

The Goodyear Tire & Rubber Company stock has also gained 5.91% of its value over the past 7 days. However, GT stock has declined by -29.44% in the 3 months of the year. Over the past six months meanwhile, it has lost -7.69% and lost -48.73% year-on date.

The market cap for GT stock reached $2.86 billion, with 284.00 million shares outstanding and 281.70 million shares in the current float. Compared to the average trading volume of 4.56M shares, GT reached a trading volume of 6432555 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 $14.14 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 0.63, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.14. 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 4.75.

GT stock trade performance evaluation

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 5.91. With this latest performance, GT shares dropped by -0.55% in over the last four-week period, additionally sinking by -7.69% over the last 6 months – not to mention a drop of -53.59% 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 48.11, with the RSI for the last a single of trading hit 49.89, and the three-weeks RSI is set at 47.12 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 11.64, while it was recorded at 10.62 for the last single week of trading, and 13.10 for the last 200 days.

The Goodyear Tire & Rubber Company [GT]: An insightful look at the core fundamentals

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 $2,503 million, or 84.20% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 32,454,080, which is approximately -7.838% of the company’s market cap and around 0.41% of the total institutional ownership; VANGUARD GROUP INC, holding 28,220,515 shares of the stock with an approximate value of $308.45 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $226.16 million in GT stock with ownership of nearly -1.272% of the company’s market capitalization.

192 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 20,839,490 shares. Additionally, 180 investors decreased positions by around 24,053,411 shares, while 79 investors held positions by with 184,117,458 shares. The mentioned changes placed institutional holdings at 229,010,359 shares, according to the latest SEC report filing. GT stock had 60 new institutional investments in for a total of 7,994,616 shares, while 56 institutional investors sold positions of 11,751,312 shares during the same period.


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