Goodyear Tire & Rubber Co. [NASDAQ: GT] closed the trading session at $13.20 on 01/11/24. The day’s price range saw the stock hit a low of $12.975, while the highest price level was $13.35. The company report on January 9, 2024 at 8:00 AM that TDK AND GOODYEAR ANNOUNCE COLLABORATION TO ADVANCE TIRE INTELLIGENCE TECHNOLOGIES.
The two companies aim to develop a collection of sensors and related technologies for use in vehicles and tire applications.
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TDK Corporation (TSE 6762) and The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a collaboration to advance next-generation tire solutions with the goal of accelerating the development and adoption of integrated intelligent hardware and software into tires and vehicle ecosystems.
The stocks have a year to date performance of -7.82 percent and weekly performance of -2.29 percent. The stock has been moved at -14.62 percent over the last six months. The stock has performed -6.71 percent around the most recent 30 days and changed 7.23 percent over the most recent 3-months.
If compared to the average trading volume of 3.35M shares, GT reached to a volume of 3884678 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 Goodyear Tire & Rubber Co. [GT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GT shares is $16.40 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.
HSBC Securities have made an estimate for Goodyear Tire & Rubber Co. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 04, 2023.
The Average True Range (ATR) for Goodyear Tire & Rubber Co. is set at 0.38, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.18. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 3.73.
GT stock trade performance evaluation
Goodyear Tire & Rubber Co. [GT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.29. With this latest performance, GT shares dropped by -6.71% in over the last four-week period, additionally sinking by -14.62% over the last 6 months – not to mention a rise of 15.89% 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 37.31, with the RSI for the last a single of trading hit 30.35, and the three-weeks RSI is set at 42.24 for Goodyear Tire & Rubber Co. [GT]. The present Moving Average for the last 50 days of trading for this stock 13.79, while it was recorded at 13.44 for the last single week of trading, and 13.10 for the last 200 days.
Goodyear Tire & Rubber Co. [GT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Goodyear Tire & Rubber Co. [GT] shares currently have an operating margin of +4.57 and a Gross Margin at +20.42. Goodyear Tire & Rubber Co.’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, Goodyear Tire & Rubber Co. [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, Goodyear Tire & Rubber Co. [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.Goodyear Tire & Rubber Co.’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 Goodyear Tire & Rubber Co. [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 Goodyear Tire & Rubber Co. go to 14.29%.
Goodyear Tire & Rubber Co. [GT]: Institutional Ownership
The top three institutional holders of GT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GT stock with ownership which is approximately 5.8325%.
