Reviewing The Case For Goodyear Tire & Rubber Co (GT) Going Higher

Currently, there are 283.79M common shares owned by the public and among those 262.75M shares have been available to trade.

The company’s stock has a 5-day price change of 10.75% and 15.56% over the past three months. GT shares are trading -29.47% year to date (YTD), with the 12-month market performance down to -27.96% lower. It has a 12-month low price of $7.27 and touched a high of $15.24 over the same period. GT has an average intraday trading volume of 5.27 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 9.14%, 15.51%, and -5.37% respectively.

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Institutional ownership of Goodyear Tire & Rubber Co (NASDAQ: GT) shares accounts for 85.36% of the company’s 283.79M shares outstanding.

It has a market capitalization of $2.88B and a beta (3y monthly) value of 1.75. The earnings-per-share (ttm) stands at -$1.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.07% over the week and 4.11% over the month.

Earnings per share for the fiscal year are expected to increase by 371.27%, and 49.68% over the next financial year.

Morgan Stanley coverage for the Goodyear Tire & Rubber Co (GT) stock in a research note released on June 13, 2024 offered a Equal-Weight rating with a price target of $14. HSBC Securities was of a view on December 04, 2023 that the stock is Buy, while Deutsche Bank gave the stock Buy rating on November 16, 2023, issuing a price target of $13- $21. Nomura on their part issued Neutral rating on May 17, 2023.

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