Goodyear Tire & Rubber (NASDAQ:GT) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.30 and traded as high as $6.86. Goodyear Tire & Rubber shares last traded at $6.8440, with a volume of 18,474,545 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. JPMorgan Chase & Co. restated an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, TD Cowen lowered their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.54.

Goodyear Tire & Rubber Price Performance

The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The company has a 50-day simple moving average of $6.30 and a 200-day simple moving average of $7.62. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -0.95 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, research analysts predict that The Goodyear Tire & Rubber Company will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently modified their holdings of the company. Focus Partners Wealth purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $25,000. EFG International AG purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth $26,000. Los Angeles Capital Management LLC acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in Goodyear Tire & Rubber by 656.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after purchasing an additional 5,248 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after buying an additional 2,538 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

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.