The stock of Goodyear Tire & Rubber Co. (NASDAQ: GT) has decreased by -0.96 when compared to last closing price of 13.55. Despite this, the company has experienced a 2.76% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-03-20 that Finding undervalued stocks in today’s market can be like searching for a needle in a haystack. With stocks regularly hitting new highs, it seems everything has already been bid up to nosebleed valuations.
Is It Worth Investing in Goodyear Tire & Rubber Co. (NASDAQ: GT) Right Now?
The stock has a 36-month beta value of 1.85. Opinions on the stock are mixed, with 4 analysts rating it as a “buy,” 3 as “overweight,” 4 as “hold,” and 0 as “sell.”
The public float for GT is 282.03M, and at present, short sellers hold a 6.00% of that float. On April 03, 2024, the average trading volume of GT was 4.03M shares.
GT’s Market Performance
GT stock saw an increase of 2.76% in the past week, with a monthly gain of 14.41% and a quarterly increase of -6.28%. The volatility ratio for the week is 2.36%, and the volatility levels for the last 30 days are 2.70% for Goodyear Tire & Rubber Co. (GT). The simple moving average for the past 20 days is 5.50% for GT’s stock, with a 0.60% simple moving average for the past 200 days.
Analysts’ Opinion of GT
Many brokerage firms have already submitted their reports for GT stocks, with HSBC Securities repeating the rating for GT by listing it as a “Buy.” The predicted price for GT in the upcoming period, according to HSBC Securities is $16.80 based on the research report published on December 04, 2023 of the previous year 2023.
Deutsche Bank, on the other hand, stated in their research note that they expect to see GT reach a price target of $21, previously predicting the price at $13. The rating they have provided for GT stocks is “Buy” according to the report published on November 16th, 2023.
Nomura gave a rating of “Neutral” to GT, setting the target price at $17 in the report published on May 17th of the previous year.
GT Trading at 3.47% from the 50-Day Moving Average
After a stumble in the market that brought GT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.69% of loss for the given period.
Volatility was left at 2.70%, however, over the last 30 days, the volatility rate increased by 2.36%, as shares surge +13.83% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.68% lower at present.
During the last 5 trading sessions, GT rose by +2.76%, which changed the moving average for the period of 200-days by +1.74% in comparison to the 20-day moving average, which settled at $12.80. In addition, Goodyear Tire & Rubber Co. saw -6.28% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GT starting from WELLS DARREN R, who sale 8,509 shares at the price of $11.82 back on Feb 28 ’24. After this action, WELLS DARREN R now owns 150,441 shares of Goodyear Tire & Rubber Co., valued at $100,579 using the latest closing price.
WELLS DARREN R, the EVP & Chief Admin. Officer of Goodyear Tire & Rubber Co., sale 237 shares at $12.01 during a trade that took place back on Feb 27 ’24, which means that WELLS DARREN R is holding 150,441 shares at $2,845 based on the most recent closing price.
Stock Fundamentals for GT
Current profitability levels for the company are sitting at:
- 0.0 for the present operating margin
- 0.17 for the gross margin
The net margin for Goodyear Tire & Rubber Co. stands at -0.03. The total capital return value is set at 0.0. Equity return is now at value -13.82, with -3.13 for asset returns.
Based on Goodyear Tire & Rubber Co. (GT), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 1.85. The interest coverage ratio of the stock is 0.12.
Currently, EBITDA for the company is 1.57 billion with net debt to EBITDA at 4.93. When we switch over and look at the enterprise to sales, we see a ratio of 0.58. The receivables turnover for the company is 7.35for trailing twelve months and the total asset turnover is 0.93. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.07.
Conclusion
To sum up, Goodyear Tire & Rubber Co. (GT) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
