Goodyear Tire & Rubber Co. (NASDAQ: GT) has experienced a rise in its stock price by 2.36 compared to its previous closing price of 11.84. However, the company has seen a gain of 1.93% in its stock price over the last five trading days. PRNewsWire reported 2024-04-26 that AKRON, Ohio, April 26, 2024 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) will report first quarter 2024 financial results after market close on Monday, May 6, followed by an investor conference call at 8:00 a.m. EDT on Tuesday, May 7.
Is It Worth Investing in Goodyear Tire & Rubber Co. (NASDAQ: GT) Right Now?
Moreover, the 36-month beta value for GT is 1.87. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 3 as “overweight,” 4 as “hold,” and 0 as “sell.”
The public float for GT is 282.01M and currently, short sellers hold a 6.70% of that float. On April 30, 2024, GT’s average trading volume was 3.69M shares.
GT’s Market Performance
GT’s stock has seen a 1.93% increase for the week, with a -11.73% drop in the past month and a -17.55% fall in the past quarter. The volatility ratio for the week is 2.54%, and the volatility levels for the past 30 days are at 2.86% for Goodyear Tire & Rubber Co. The simple moving average for the last 20 days is -3.01% for GT’s stock, with a simple moving average of -8.32% for the last 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 -2.88% 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 -26.57% of loss for the given period.
Volatility was left at 2.86%, however, over the last 30 days, the volatility rate increased by 2.54%, as shares sank -10.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.14% lower at present.
During the last 5 trading sessions, GT rose by +1.93%, which changed the moving average for the period of 200-days by -21.60% in comparison to the 20-day moving average, which settled at $12.42. In addition, Goodyear Tire & Rubber Co. saw -15.36% 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 0.56. 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 wrap up, the performance of Goodyear Tire & Rubber Co. (GT) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
