The Goodyear Tire & Rubber Company [NASDAQ: GT] stock went on a downward path that fall over -5.33% on Monday, amounting to a one-week price decrease of less than -12.12%. The company report on March 2, 2023 that GOODYEAR LAUNCHES THE NEW FUEL MAX 1AD TIRE FOR TOUGH SUPER-REGIONAL TRUCKING JOBS.
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The Fuel Max 1AD single-axle drive tire features the traction benefits and features needed to handle freight jobs and yard maneuvers with ease.
The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced the next addition to the purpose-driven Fuel Max lineup, the Fuel Max 1AD, for single-axle drive tractors handling super regional, less-than-truckload, or LTL, applications. The tire is designed to deliver the traction features, milage and fuel efficiency today’s fleets require.
Over the last 12 months, GT stock dropped by -21.07%. The one-year The Goodyear Tire & Rubber Company stock forecast points to a potential upside of 22.5. The average equity rating for GT stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.02 billion, with 284.00 million shares outstanding and 281.66 million shares in the current float. Compared to the average trading volume of 4.20M shares, GT stock reached a trading volume of 8301085 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $13.29 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 2.30. 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.
Exane BNP Paribas have made an estimate for The Goodyear Tire & Rubber Company shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 30, 2023. The new note on the price target was released on November 29, 2022, representing the official price target for The Goodyear Tire & Rubber Company stock. Previously, the target price had yet another drop from $19 to $15, while Deutsche Bank kept a Hold rating on GT stock. On May 10, 2022, analysts increased their price target for GT shares from 15 to 15.30.
The Average True Range (ATR) for The Goodyear Tire & Rubber Company is set at 0.41, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.15. 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 4.18.
GT Stock Performance Analysis:
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 -12.12. With this latest performance, GT shares dropped by -4.10% in over the last four-week period, additionally sinking by -26.53% over the last 6 months – not to mention a drop of -21.07% 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 33.16, with the RSI for the last a single of trading hit 23.98, and the three-weeks RSI is set at 38.77 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 11.26, while it was recorded at 11.11 for the last single week of trading, and 11.73 for the last 200 days.
Insight into The Goodyear Tire & Rubber Company 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 +4.57 and a Gross Margin at +20.42. The Goodyear Tire & Rubber Company’s Net Margin is presently recorded at +0.97.
Return on Equity for this stock inclined to 3.92, with Return on Assets sitting at 0.92.
The Goodyear Tire & Rubber Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.20.
GT Stock EPS
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 9.25%.
The Goodyear Tire & Rubber Company [GT] Insider Position Details
There are presently around $2,335 million, or 82.20% of GT stock, in the hands of institutional investors. The top three institutional holders of GT stocks are: BLACKROCK INC. with ownership of 34,713,271, which is approximately 6.961% of the company’s market cap and around 0.44% of the total institutional ownership; VANGUARD GROUP INC, holding 28,724,606 shares of the stock with an approximate value of $295.86 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $185.4 million in GT stock with ownership of nearly -11.34% of the company’s market capitalization.
Positions in The Goodyear Tire & Rubber Company stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 171 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 19,463,552 shares. Additionally, 196 investors decreased positions by around 21,948,487 shares, while 74 investors held positions by with 185,317,474 shares. The mentioned changes placed institutional holdings at 226,729,513 shares, according to the latest SEC report filing. GT stock had 58 new institutional investments in for a total of 4,040,532 shares, while 54 institutional investors sold positions of 3,719,427 shares during the same period.