In the past week, GT stock has gone down by -25.08%, with a monthly decline of -18.11% and a quarterly plunge of -26.54%. The volatility ratio for the week is 5.89%, and the volatility levels for the last 30 days are 3.77% for Goodyear Tire & Rubber Co. The simple moving average for the last 20 days is -21.57% for GT stock, with a simple moving average of -28.87% for the last 200 days.
Is It Worth Investing in Goodyear Tire & Rubber Co. (NASDAQ: GT) Right Now?
Moreover, the 36-month beta value for GT is 1.74. 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.”
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The public float for GT is 282.55M and currently, short sellers hold a 7.51% of that float. On August 02, 2024, GT’s average trading volume was 3.30M shares.
GT) stock’s latest price update
Goodyear Tire & Rubber Co. (NASDAQ: GT) has seen a decline in its stock price by -7.88 in relation to its previous close of 9.84. However, the company has experienced a -25.08% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-02 that The Goodyear Tire & Rubber Company shares plummeted 15.1% on August 1st due to weak revenue in the second quarter of 2024. Despite the revenue decline, earnings and adjusted earnings per share were higher than expected, with significant cost-cutting initiatives underway. The company’s Goodyear Forward plan aims to sell $2 billion in assets and cut costs by $1.3 billion annually, and the firm is showing positive progress in this regard.
Analysts’ Opinion of GT
Many brokerage firms have already submitted their reports for GT stocks, with Morgan Stanley repeating the rating for GT by listing it as a “Equal-Weight.” The predicted price for GT in the upcoming period, according to Morgan Stanley is $14 based on the research report published on June 13, 2024 of the current year 2024.
HSBC Securities, on the other hand, stated in their research note that they expect to see GT reach a price target of $16.80. The rating they have provided for GT stocks is “Buy” according to the report published on December 04th, 2023.
Deutsche Bank gave a rating of “Buy” to GT, setting the target price at $21 in the report published on November 16th of the previous year.
GT Trading at -22.32% 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 -43.09% of loss for the given period.
Volatility was left at 3.77%, however, over the last 30 days, the volatility rate increased by 5.89%, as shares sank -16.99% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -27.36% lower at present.
During the last 5 trading sessions, GT fell by -25.50%, which changed the moving average for the period of 200-days by -26.65% in comparison to the 20-day moving average, which settled at $11.47. In addition, Goodyear Tire & Rubber Co. saw -36.70% 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:
- 0.02 for the present operating margin
- 0.38 for the gross margin
The net margin for Goodyear Tire & Rubber Co. stands at -0.02. The total capital return value is set at 0.03. Equity return is now at value -7.18, with -1.57 for asset returns.
Based on Goodyear Tire & Rubber Co. (GT), the company’s capital structure generated 0.66 points at debt to capital in total, while cash flow to debt ratio is standing at 0.14. The debt to equity ratio resting at 1.96. The interest coverage ratio of the stock is 0.9.
Currently, EBITDA for the company is 1.57 billion with net debt to EBITDA at 5.52. When we switch over and look at the enterprise to sales, we see a ratio of 0.59. The receivables turnover for the company is 6.36for trailing twelve months and the total asset turnover is 0.88. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.06.
Conclusion
To wrap up, the performance of Goodyear Tire & Rubber Co. (GT) has been bad 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.
