The Goodyear Tire & Rubber Company [NASDAQ: GT] traded at a low on 04/05/23, posting a -2.37 loss after which it closed the day’ session at $10.30. The company report on April 4, 2023 that GOODYEAR REVEALS 125TH ANNIVERSARY COMMEMORATIVE SIDEWALL DESIGN FOR GOODYEAR 400.
Goodyear celebrates the Official Throwback Weekend of NASCAR in style with a special sidewall logo that nods to the past.
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In celebration of Goodyear’s 125th anniversary this year, The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a special sidewall logo design for the Official Throwback Weekend of NASCAR during the weekend of May 12-14, 2023. The vintage logo sidewall design features the historic Goodyear Wingfoot logo, originally created in 1898, and coincides with the special 75th anniversary NASCAR Throwback Weekend of races held at the Darlington Raceway.
The results of the trading session contributed to over 3829923 shares changing hands. Over the past one week, the price volatility of The Goodyear Tire & Rubber Company stands at 3.00% while the volatility over the past one month is 3.35%.
The market cap for GT stock reached $2.83 billion, with 284.00 million shares outstanding and 281.70 million shares in the current float. Compared to the average trading volume of 4.44M shares, GT reached a trading volume of 3829923 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 $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 0.39, 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 0.55, with the Price to Cash per share for the same quarter was set at 4.47.
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 -3.20. With this latest performance, GT shares dropped by -10.82% in over the last four-week period, additionally sinking by -11.13% over the last 6 months – not to mention a drop of -27.57% 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 42.75, with the RSI for the last a single of trading hit 41.19, and the three-weeks RSI is set at 43.97 for The Goodyear Tire & Rubber Company [GT]. The present Moving Average for the last 50 days of trading for this stock 11.02, while it was recorded at 10.69 for the last single week of trading, and 11.56 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 +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 Total Capital for GT is now 6.79, given the latest momentum, and Return on Invested Capital for the company is 1.56. Return on Equity for this stock inclined to 3.92, with Return on Assets sitting at 0.92. When it comes to the capital structure of this company, The Goodyear Tire & Rubber Company [GT] has a Total Debt to Total Equity ratio set at 168.11. Additionally, GT Total Debt to Total Capital is recorded at 62.70, with Total Debt to Total Assets ending up at 39.72. Long-Term Debt to Equity for the company is recorded at 152.60, with the Long-Term Debt to Total Capital now at 56.92.
Reflecting on the efficiency of the workforce at the company, The Goodyear Tire & Rubber Company [GT] managed to generate an average of $2,730 per employee. Receivables Turnover for the company is 8.33 with a Total Asset Turnover recorded at a value of 0.95.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.
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 9.25%.
Insider trade positions for The Goodyear Tire & Rubber Company [GT]
There are presently around $2,369 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 0.45% of the total institutional ownership; VANGUARD GROUP INC, holding 28,724,606 shares of the stock with an approximate value of $303.05 million in GT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $189.9 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 Friday and at the time of the Friday reporting period, where 168 institutional holders increased their position in The Goodyear Tire & Rubber Company [NASDAQ:GT] by around 19,257,515 shares. Additionally, 197 investors decreased positions by around 21,891,000 shares, while 73 investors held positions by with 183,414,415 shares. The mentioned changes placed institutional holdings at 224,562,930 shares, according to the latest SEC report filing. GT stock had 53 new institutional investments in for a total of 3,827,870 shares, while 56 institutional investors sold positions of 3,751,293 shares during the same period.