Market Runner: What’s Next for Goodyear Tire & Rubber Co After Today’s Significant Increase?

Market Runner: What's Next for Goodyear Tire & Rubber Co After Today's Significant Increase?

The stock of Goodyear Tire & Rubber Co (NASDAQ:GT) is a huge mover today! About 1.17M shares traded hands. Goodyear Tire & Rubber Co (NASDAQ:GT) has risen 2.68% since April 28, 2016 and is uptrending. It has underperformed by 3.25% the S&P500.
The move comes after 9 months positive chart setup for the $8.07 billion company. It was reported on Dec, 1 by We have $32.92 PT which if reached, will make NASDAQ:GT worth $403.50M more.

Analysts await Goodyear Tire & Rubber Co (NASDAQ:GT) to report earnings on February, 14. They expect $0.84 earnings per share, down 9.68% or $0.09 from last year’s $0.93 per share. GT’s profit will be $216.23M for 9.33 P/E if the $0.84 EPS becomes a reality. After $1.17 actual earnings per share reported by Goodyear Tire & Rubber Co for the previous quarter, Wall Street now forecasts -28.21% negative EPS growth.

Goodyear Tire & Rubber Co (NASDAQ:GT) Ratings Coverage

Out of 5 analysts covering Goodyear Tire (NASDAQ:GT), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Goodyear Tire has been the topic of 8 analyst reports since October 28, 2015 according to StockzIntelligence Inc. On Thursday, January 14 the stock rating was upgraded by Standpoint Research to “Buy”. As per Tuesday, November 29, the company rating was initiated by Jefferies. The stock has “Hold” rating given by Standpoint Research on Wednesday, March 30. The firm has “Buy” rating given on Tuesday, November 22 by Berenberg. Argus Research maintained Goodyear Tire & Rubber Co (NASDAQ:GT) on Tuesday, November 10 with “Buy” rating. The rating was upgraded by KeyBanc Capital Markets to “Overweight” on Thursday, April 7. The company was downgraded on Wednesday, October 28 by Standpoint Research.

According to Zacks Investment Research, “Goodyear is one of the world’s largest tire companies. The company manufactures tires, engineered rubber products and chemicals in facilities in numerous countries. It has marketing operations in almost every country around the world. (Company Press Release)”

Insitutional Activity: The institutional sentiment decreased to 0.73 in 2016 Q2. Its down 0.20, from 0.93 in 2016Q1. The ratio dived, as 70 funds sold all Goodyear Tire & Rubber Co shares owned while 159 reduced positions. 43 funds bought stakes while 171 increased positions. They now own 241.41 million shares or 1.76% less from 245.73 million shares in 2016Q1.
The Michigan-based State Treasurer State Of Michigan has invested 0.02% in Goodyear Tire & Rubber Co (NASDAQ:GT). The United Kingdom-based Royal London Asset Mngmt Limited has invested 0.03% in Goodyear Tire & Rubber Co (NASDAQ:GT). Oakworth Capital Incorporated last reported 0% of its portfolio in the stock. Tiaa Cref Mgmt Llc last reported 0.04% of its portfolio in the stock. Pillar Pacific Cap Ltd Llc last reported 0.47% of its portfolio in the stock. Nomura Asset Limited, a Japan-based fund reported 34,449 shares. Hoertkorn Richard Charles holds 1,000 shares or 0.02% of its portfolio. James Inc accumulated 2.00 million shares or 1.3% of the stock. Amalgamated Bancshares has 36,596 shares for 0.06% of their US portfolio. Nokota Mngmt Limited Partnership accumulated 0.85% or 886,779 shares. The California-based Wells Fargo Mn has invested 0.01% in Goodyear Tire & Rubber Co (NASDAQ:GT). Focused Wealth holds 6,450 shares or 0.08% of its portfolio. Lsv Asset Management holds 0.46% or 8.83 million shares in its portfolio. Camarda Finance Advsrs Limited has 0.68% invested in the company for 41,918 shares. Mizuho Asset Coltd accumulated 3,257 shares or 0.02% of the stock.

Insider Transactions: Since August 12, 2016, the stock had 0 insider purchases, and 2 selling transactions for $1.07 million net activity. McClellan Stephen R sold $14,632 worth of stock. 35,869 shares were sold by Smith Gregory L, worth $1.05M on Friday, August 12.

Another recent and important Goodyear Tire & Rubber Co (NASDAQ:GT) news was published by which published an article titled: “Goodyear Blimp ‘Santa Claus Express’ Comes to Town for Toys for Tots” on November 18, 2016.

GT Company Profile

The Goodyear Tire & Rubber Company, incorporated on August 29, 1898, is a maker of tires. The Firm is engaged in developing, manufacturing, marketing and distributing tires for a range of applications. The Firm also makes and markets rubber-related chemicals for a range of applications. The Company’s divisions include Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. Americas business comprises businesses of North America and Latin America. It operates commercial truck service and tire retreading centers. In addition, it operates approximately 1,100 tire and auto service center outlets where it offers its products for retail sale and provides automotive repair and other services. It makes its products in approximately 50 manufacturing facilities in over 20 countries, including the United States. The Firm makes and markets various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, industrial equipment, earthmoving and mining equipment, and various other applications. The Firm makes and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned house brands, and the private-label brands of certain customers. In certain geographic areas, it also retreads truck, aviation and off-the-road (OTR) tires; makes and sells tread rubber and other tire retreading materials; sells chemical products, and provides automotive repair services and miscellaneous other services and products.

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