The Goodyear Tire & Rubber Company (NASDAQ: GT) is 62.14% higher on its value in year-to-date trading and has touched a low of $5.34 and a high of $19.38 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GT stock was last observed hovering at around $17.36 in the last trading session, with the day’s gains setting it 0.33% off its average median price target of $18.00 for the next 12 months. It is also 23.09% off the consensus price target high of $23.00 offered by 7 analysts, but current levels are -36.08% lower than the price target low of $13.00 for the same period.
Currently trading at $17.69, the stock is 1.05% and 15.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.23 million and changing 1.90% at the moment leaves the stock 58.98% off its SMA200. GT registered 207.12% gain for a year compared to 6-month gain of 112.62%. The firm has a 50-day simple moving average (SMA 50) of $17.05 and a 200-day simple moving average (SMA200) of $11.97.
The stock witnessed a -2.86% loss in the last 1 month and extending the period to 3 months gives it a 62.14%, and is 3.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.79% over the week and 4.34% over the month.
The Goodyear Tire & Rubber Company (GT) has around 62000 employees, a market worth around $4.18B and $12.32B in sales. Fwd P/E is 11.03. Profit margin for the company is -10.20%. Distance from 52-week low is 231.27% and -8.72% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.40%).
The Goodyear Tire & Rubber Company (GT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for The Goodyear Tire & Rubber Company (GT) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
The Goodyear Tire & Rubber Company is expected to release its quarterly report on 07/23/2021 and quarterly earnings per share for the current quarter are estimated at $0.12 with sales reaching $3.44B over the same period.The EPS is expected to shrink by -301.50% this year, but quarterly earnings will post 18.50% year-over-year. Quarterly sales are estimated to grow 12.60% in year-over-year returns.
The Goodyear Tire & Rubber Company (GT) Top Institutional Holders
430 institutions hold shares in The Goodyear Tire & Rubber Company (GT), with 960.87k shares held by insiders accounting for 0.41% while institutional investors hold 83.24% of the company’s shares. The shares outstanding are 234.00M, and float is at 232.51M with Short Float at 5.82%. Institutions hold 82.89% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 27.78 million shares valued at $303.07 million. The investor’s holdings represent 11.91% of the GT Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 20.78 million shares valued at $226.73 million to account for 8.91% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 11.94 million shares representing 5.12% and valued at over $130.25 million, while Lsv Asset Management holds 3.75% of the shares totaling 8.75 million with a market value of $95.49 million.
The Goodyear Tire & Rubber Company (GT) Insider Activity
A total of 58 insider transactions have happened at The Goodyear Tire & Rubber Company (GT) in the last six months, with sales accounting for 29 and purchases happening 29 times.