Will The Goodyear Tire & Rubber Company (GT) Short Squeeze Soon?

July 13, 2018 - By Theresa Judd

The Goodyear Tire & Rubber Company (NASDAQ:GT) Logo

Investors sentiment increased to 0.99 in Q1 2018. Its up 0.24, from 0.75 in 2017Q4. It is positive, as 38 investors sold The Goodyear Tire & Rubber Company shares while 148 reduced holdings. 50 funds opened positions while 134 raised stakes. 201.95 million shares or 4.42% less from 211.29 million shares in 2017Q4 were reported.
California Public Employees Retirement Systems holds 0.03% or 791,825 shares. Morgan Stanley owns 4.24M shares. Bluecrest Mgmt Limited owns 54,459 shares. Icon Advisers has 18,000 shares. Srb Corporation invested in 7,070 shares or 0.02% of the stock. State Treasurer State Of Michigan owns 70,716 shares for 0.02% of their portfolio. Wellington Mngmt Llp stated it has 0.03% of its portfolio in The Goodyear Tire & Rubber Company (NASDAQ:GT). Ubs Asset Americas holds 0% or 940,967 shares in its portfolio. Moreover, Adage Prtn Limited Liability Com has 0.54% invested in The Goodyear Tire & Rubber Company (NASDAQ:GT) for 8.71 million shares. Advisory Ser Ntwk Ltd Liability Corporation holds 0.01% in The Goodyear Tire & Rubber Company (NASDAQ:GT) or 4,192 shares. Ontario Teachers Pension Plan Board reported 892,339 shares or 0.35% of all its holdings. State Of Tennessee Treasury Department holds 0.01% in The Goodyear Tire & Rubber Company (NASDAQ:GT) or 57,710 shares. Credit Suisse Ag has 800,805 shares. Fmr holds 0% of its portfolio in The Goodyear Tire & Rubber Company (NASDAQ:GT) for 948,650 shares. New Jersey-based Prudential Fin has invested 0.02% in The Goodyear Tire & Rubber Company (NASDAQ:GT).

The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) hit a new 52-week low and has $21.32 target or 6.00 % below today’s $22.68 share price. The 6 months bearish chart indicates high risk for the $5.44B company. The 1-year low was reported on Jul, 13 by Barchart.com. If the $21.32 price target is reached, the company will be worth $326.34M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 2.41% or $0.56 during the last trading session, reaching $22.68. About 4.19M shares traded or 51.62% up from the average. The Goodyear Tire & Rubber Company (NASDAQ:GT) has declined 21.33% since July 13, 2017 and is downtrending. It has underperformed by 33.90% the S&P500.

Analysts await The Goodyear Tire & Rubber Company (NASDAQ:GT) to report earnings on July, 27. They expect $0.59 EPS, down 15.71 % or $0.11 from last year’s $0.7 per share. GT’s profit will be $141.49 million for 9.61 P/E if the $0.59 EPS becomes a reality. After $0.50 actual EPS reported by The Goodyear Tire & Rubber Company for the previous quarter, Wall Street now forecasts 18.00 % EPS growth.

The Goodyear Tire & Rubber Company (NASDAQ:GT) Ratings Coverage

Among 7 analysts covering GoodYear Tire (NASDAQ:GT), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. GoodYear Tire had 10 analyst reports since January 28, 2018 according to SRatingsIntel. Guggenheim maintained the shares of GT in report on Thursday, April 19 with “Hold” rating. The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) earned “Overweight” rating by JP Morgan on Thursday, April 26. As per Friday, February 9, the company rating was maintained by Guggenheim. The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) earned “Buy” rating by Jefferies on Wednesday, April 4. The stock has “Neutral” rating by Citigroup on Tuesday, May 22. Northcoast maintained The Goodyear Tire & Rubber Company (NASDAQ:GT) on Monday, June 25 with “Buy” rating. Morgan Stanley maintained the shares of GT in report on Thursday, March 22 with “Overweight” rating. The firm has “Buy” rating by Jefferies given on Sunday, January 28.

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, makes, distributes, and sells tires and related services and products worldwide. The company has market cap of $5.44 billion. It offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands. It has a 22.17 P/E ratio. The firm also retreads truck, aviation, and off-the-road tires; makes and sells tread rubber and other tire retreading materials; makes and markets rubber-related chemicals; and provides automotive and commercial truck maintenance and repair services, and miscellaneous other services and products, as well as sells natural rubber products.

The Goodyear Tire & Rubber Company (NASDAQ:GT) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.