Goodyear Tire & Rubber Co (NASDAQ:GT) price on current trading day, fall -1.67% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.53.
A look at the stock’s price movement, the level at last check in today’s session was $8.68, moving within a range at $8.4517 and $8.71. The beta value (5-Year monthly) was 1.699. Turning to its 52-week performance, $14.00 and $7.27 were the 52-week high and 52-week low respectively. Overall, GT moved -3.34% over the past month.
Goodyear Tire & Rubber Co’s market cap currently stands at around $2.43 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 4.91B for the company’s revenue for the quarter, with a low and high estimate of 4.81B and 4.98B respectively. The average forecast suggests down to a -4.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 18.8B, representing a -6.32% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GT is a 50% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 1 recommend GT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
GT’s current price about -5.60% and -8.67% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.54, while 7-day volatility ratio is 3.86% and 3.30% in the 30-day chart. Further, Goodyear Tire & Rubber Co (GT) has a beta value of 1.73, and an average true range (ATR) of 0.32. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $14 and high of $19. Looking at the price targets, the low is -64.13% off recent price level in today’s trading while to achieve the yearly target high, it has to move -122.74%. Nonetheless, investors will most likely welcome a -75.85% jump to $15 which is the analysts’ median price.
If we refocus on Goodyear Tire & Rubber Co (NASDAQ:GT), historical trading data shows that trading volumes averaged 4.27 over the past 10 days and 4.58 million over the past 3 months. The company’s latest data on shares outstanding shows there are 284.92 million shares.
The 7.77% of Goodyear Tire & Rubber Co’s shares are in the hands of company insiders while institutional holders own 85.45% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 22.34 million on 2025-01-15, giving us a short ratio of 4.52. The data shows that as of 2025-01-15 short interest in Goodyear Tire & Rubber Co (GT) stood at 1025.0 of shares outstanding, with shares short falling to 22.73 million registered in 2024-12-13. Current price change has pushed the stock -5.17% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GT stock continues to rise going into the next quarter.
