The Goodyear Tire & Rubber Company (GT) : Traders are bullish on The Goodyear Tire & Rubber Company (GT) as it has outperformed the S&P 500 by a wide margin of 7.1% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.99% in the last 1 week, and is up 10.7% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.63% and the 50-Day Moving Average is 6.77%. The Goodyear Tire & Rubber Company has dropped 0.8% during the last 3-month period . Year-to-Date the stock performance stands at -11.61%.
The Goodyear Tire & Rubber Company (NASDAQ:GT): On Fridays trading session , Opening price of the stock was $28.69 with an intraday high of $29.09. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $28.51. However, the stock managed to close at $28.67, a loss of 0.24% for the day. On the previous day, the stock had closed at $28.74. The total traded volume of the day was 2,848,949 shares.
Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on The Goodyear Tire & Rubber Company (NASDAQ:GT). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup raises the price target from $36 per share to $37 per share. The rating by the firm was issued on July 28, 2016.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Companys business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles, motorcycles, trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures 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.