A share price of Goodyear Tire & Rubber Co. [GT] is currently trading at $8.33, up 0.60%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The GT shares have gain 8.32% over the last week, with a monthly amount drifted -30.29%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Goodyear Tire & Rubber Co. [NASDAQ: GT] stock has seen the most recent analyst activity on June 13, 2024, when Morgan Stanley initiated its Equal-Weight rating and assigned the stock a price target of $14. Previously, HSBC Securities started tracking the stock with Buy rating on December 04, 2023, and set its price target to $16.80. On November 16, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $21 on the stock. Nomura downgraded its rating to a Neutral but stick to its price target of $17 on May 17, 2023. Exane BNP Paribas upgraded its rating to a Neutral but $13 remained the price target by the analyst firm on May 15, 2023. Exane BNP Paribas downgraded its rating to Underperform for this stock on January 30, 2023. In a note dated November 29, 2022, Argus downgraded an Hold rating on this stock.
Goodyear Tire & Rubber Co. experienced fluctuations in its stock price throughout the past year between $7.63 and $15.24. Currently, Wall Street analysts expect the stock to reach $16 within the next 12 months. Goodyear Tire & Rubber Co. [NASDAQ: GT] shares were valued at $8.33 at the most recent close of the market. An investor can expect a potential return of 92.08% based on the average GT price forecast.
Analyzing the GT fundamentals
Trailing Twelve Months sales for Goodyear Tire & Rubber Co. [NASDAQ:GT] were 19.36B which represents -6.10% decline. Gross Profit Margin for this corporation currently stands at 0.2% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at -0.01%, and Net Profit Margin reading is -0.02%. To continue investigating profitability, this company’s Return on Assets is posted at -0.02, Equity is -0.07 and Total Capital is 0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.84.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 8.11 points at the first support level, and at 7.90 for the second support level. However, for the 1st resistance point, the stock is sitting at 8.51, and for the 2nd resistance point, it is at 8.70.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Goodyear Tire & Rubber Co. [NASDAQ:GT] is 1.06. Further, the Quick Ratio stands at 0.54, while the Cash Ratio is 0.11. Considering the valuation of this stock, the price to sales ratio is 0.12, the price to book ratio is 0.50.
Transactions by insiders
Recent insider trading involved MCGLADE JOHN E, Director, that happened on Aug 13 ’24 when 31408.0 shares were purchased. Director, KOELLNER LAURETTE T completed a deal on Aug 12 ’24 to buy 26000.0 shares. Meanwhile, Sr VP and General Counsel Phillips David Emmitt sold 77009.0 shares on Aug 12 ’24.
