In yesterday’s Wall Street session, Goodyear Tire & Rubber Co. (NASDAQ:GT) shares traded at $12.95, down -1.52% from the previous session.
GT stock price is now 2.55% away from the 50-day moving average and -0.37% away from the 200-day moving average. The market capitalization of the company currently stands at $3.69B.
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With the price target of $16.80, HSBC Securities recently initiated with Buy rating for Goodyear Tire & Rubber Co. (NASDAQ: GT). On November 16, 2023, Deutsche Bank Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $13 to quote $21, while ‘Nomura’ rates the stock as ‘Neutral’
In other news, WELLS DARREN R, EVP & Chief Admin. Officer sold 8,509 shares of the company’s stock on Feb 28 ’24. The stock was sold for $100,579 at an average price of $11.82. Upon completion of the transaction, the EVP & Chief Admin. Officer now directly owns 150,441 shares in the company, valued at $1.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 27 ’24, EVP & Chief Admin. Officer WELLS DARREN R sold 237 shares of the business’s stock. A total of $2,845 was realized by selling the stock at an average price of $12.01. This leaves the insider owning 150,441 shares of the company worth $1.95 million. A total of 0.75% of the company’s stock is owned by insiders.
During the past 12 months, Goodyear Tire & Rubber Co. has had a low of $11.26 and a high of $16.50. As of last week, the company has a debt-to-equity ratio of 2.01, a current ratio of 1.15, and a quick ratio of 0.60.
The net profit margin was -3.28% and return on equity was -13.05% for GT. The company reported revenue of $4.54 billion for the quarter, compared to $4.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.18 percent.
Goodyear Tire & Rubber Co.(GT) Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands. The company also provides retread truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; sells chemical products; and provides automotive and commercial repair services, and miscellaneous other products and services. In addition, it operates approximately 950 retail outlets, which offer products for sale, and provides repair and other services. Further, the company sells products and installation services online through its websites, www.goodyear.com for consumer tires and www.goodyeartrucktires.com for commercial tires; automotive maintenance and repair services under the Goodyear or Just Tires names; and automotive repair and maintenance items, automotive equipment and accessories, and other items to dealers and consumers, as well as provides miscellaneous other products and services. The company sells its products worldwide through a network of independent dealers, regional distributors, retail outlets, and retailers. The Goodyear Tire & Rubber Company was incorporated in 1898 and is headquartered in Akron, Ohio.
