Goodyear Tire & Rubber (NASDAQ:GT) Stock Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Goodyear Tire & Rubber shares moved above their 50-day moving average on Friday, trading as high as $7.25 and last changing hands at $7.21.
• Analyst sentiment remains mixed but leans cautious: the stock has a consensus rating of Hold with an average price target of $8.54, while several firms recently trimmed targets.
• The company’s latest earnings beat estimates, with EPS of -$0.39 versus expectations of -$0.44 and revenue of $3.88 billion, though sales were still down 8.7% year over year.

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.36 and traded as high as $7.25. Goodyear Tire & Rubber shares last traded at $7.21, with a volume of 8,782,987 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Cowen reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Weiss Ratings restated a "sell (d)" rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research raised Goodyear Tire & Rubber from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of "Hold" and an average price target of $8.54.

Goodyear Tire & Rubber Stock Performance

The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -1.00 and a beta of 1.12. The stock's fifty day moving average is $6.36 and its two-hundred day moving average is $7.35. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period last year, the business posted ($0.04) EPS. Goodyear Tire & Rubber's revenue was down 8.7% on a year-over-year basis. On average, analysts predict that The Goodyear Tire & Rubber Company will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EFG International AG bought a new position in Goodyear Tire & Rubber during the 4th quarter worth $26,000. Los Angeles Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $26,000. Focus Partners Wealth bought a new stake in Goodyear Tire & Rubber during the third quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company's stock worth $40,000 after buying an additional 5,248 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Goodyear Tire & Rubber by 55.5% in the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company's stock valued at $62,000 after purchasing an additional 2,538 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear's core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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