Why You Need The Goodyear Tire & Rubber Company (GT) On Your Watchlist

The Goodyear Tire & Rubber Company (NASDAQ:GT) saw a downside of -1.26% to $18.42 after subtracting -$0.24 on Wednesday. The 5-day average trading volume is 2,895,359 shares of the company’s common stock. It has gained $19.13 in the past week. An average of 3,569,390 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,542,702.

GT’s 1-month performance is 14.34% or $1.98 on its low of $15.85 reached on 09/14/21. The company’s shares have touched a 52-week low of $8.18 and high of $20.70, with the stock’s rally to the 52-week high happening on 06/02/21. YTD, GT has achieved 71.04% or $7.39. However, the current price is down -10.99%% from the 52-week high price.


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Insider Transactions

On May 21, 145 days have gone by since the last insider trading activity for The Goodyear Tire & Rubber Company (GT). McClellan Stephen R (President, Americas) most recently sold 5,357 shares at $19.44 per share on May 21. This transaction cost the insider $104,140.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 33.17 and a low of 5.688. GT stock has a beta of 2.04. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.36 while the price-to-book (PB) in the most recent quarter is 1.08, with the price to cash flow ratio at 4.34.

The Goodyear Tire & Rubber Company’s quick ratio for the period ended June 29 was 0.60, with the current ratio over the same period at 1.10 meaning that GT stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.66, while the total debt to equity was 1.89. In terms of profitability, the gross margin trailing 12 months is 22.00%. The trailing 12-month EBITDA margin is 6.10% while for the period ending June 29; The Goodyear Tire & Rubber Company’s operating margin was 3.60%. The firm’s gross profit as reported stood at $1.98 billion against revenue of $12.32 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 46.12% to $3.98 billion, while revenue of $3.51 billion was 11.76% off the previous quarter. Analysts expected GT to announce $0.18 per share in earnings in its latest quarter, but it posted $0.32, representing a 77.80% surprise. EBITDA for the quarter stood at more than $495.0 million. GT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 16.77 billion, with total debt at $9.03 billion. Shareholders hold equity totaling $281.19 million

Technical Picture

Let’s look briefly at The Goodyear Tire & Rubber Company (GT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 53.03% to suggest the stock is trending Neutral, with historical volatility in this time period at 41.67%.

The stock’s 5-day moving average is $18.58, reflecting a -0.40% or -$0.07 change from its current price. GT is currently trading +6.50% above its 20-day SMA, -5.69% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +16.47% and +77.47% respectively.

Stochastic %K and %D was 61.75% and 69.78% and the average true range (ATR) pointed at 0.67. The RSI (14) points at 56.02%, while the 14-day stochastic is at 45.06% with the period’s ATR at 0.66. The stock’s 9-day MACD Oscillator is pointing at -0.18 and 0.05 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for The Goodyear Tire & Rubber Company (NASDAQ: GT), Morgan Stanley downgraded it to an Equal-weight rating. They previously had an Overweight rating on the stock. Analysts offering their rating for GT stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate GT as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.

What is GT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $12.00 and a high of $24.00, with their median price target at $20.00. Looking at these predictions, the average price target given by analysts is for The Goodyear Tire & Rubber Company (GT) stock is $20.00.

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