Goodyear Tire & Rubber Co. (NASDAQ: GT) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 283.79M common shares owned by the public and among those 282.55M shares have been available to trade.

The company’s stock has a 5-day price change of -6.83% and -39.97% over the past three months. GT shares are trading -45.67% year to date (YTD), with the 12-month market performance down to -40.61% lower. It has a 12-month low price of $7.63 and touched a high of $15.24 over the same period. GT has an average intraday trading volume of 4.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -27.30%, -30.40%, and -38.34% respectively.

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Institutional ownership of Goodyear Tire & Rubber Co. (NASDAQ: GT) shares accounts for 88.41% of the company’s 283.79M shares outstanding.

It has a market capitalization of $2.21B and a beta (3y monthly) value of 1.80. The earnings-per-share (ttm) stands at -$1.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.40% over the week and 4.88% over the month.

Earnings per share for the fiscal year are expected to increase by 423.22%, and 54.17% over the next financial year.

Looking at the support for the GT, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on June 13, 2024, with the firm’s price target at $14. HSBC Securities coverage for the Goodyear Tire & Rubber Co. (GT) stock in a research note released on December 04, 2023 offered a Buy rating with a price target of $16.80. Deutsche Bank was of a view on November 16, 2023 that the stock is Buy, while Nomura gave the stock Neutral rating on May 17, 2023, issuing a price target of $17. Exane BNP Paribas on their part issued Neutral rating on May 15, 2023.

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